Friday, May 11, 2018
Macau's Chief Executive has issued an order authorizing signature of the OECD Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information.
The Multilateral Agreement provides a standardized mechanism to facilitate the automatic exchange of information in accordance with the Standard for Automatic Exchange of Financial Information in Tax Matters. It avoids the need for separate bilateral agreements to be concluded.
When Macau signs the Multilateral Agreement it will join over 100 countries and jurisdiction who have committed to tackle tax evasion and avoidance through cooperation and exchange of information.