As one may recall, the global business sector was subject to major reforms in the year 2018, which in fact, ensued the OECD/G20 BEPS Project. This project initiative transcended jurisdictional borders and in effect, entailed a series of changes to the legal and fiscal regime of many countries, including Mauritius. In order to ensure a smooth transition to the new regime, companies holding the GBC licences issued before 16 October 2017, were grandfathered till June 2021. As we approach the inevitable end of this grandfathering era, we may find ourselves asking "what is next?" for companies operating under the grandfathering authority. Mr Akhtar Janally, Senior Manager at Axis Fiduciary Ltd provides an elaborate explanation to clear the fog around the future of the global business sector now that we are reaching the end of the grandfathering era.
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