Macau Joins Multilateral Information Exchange with OECD

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Macau’s Chief Executive has authorised the country’s signing of the OECD’s multilateral agreement on Automatic Exchange of Financial Account Information.

The Multilateral Agreement provides a standardised instrument to enable the automatic exchange of financial information in accordance with the Standard for the existing rules in place by the Automatic Exchange of Information regarding tax matters. This will evade the requirement for separate bilateral agreements to be settled.