THE government announced that Macau is set to comply with the application of the “Convention on Mutual Administrative Assistance in Tax Matters” in the MSAR, the Office of the Secretary for Economy and Finance said in a statement.
The memorandum, which will soon enter into force, will make Macau compliant with the international rules regarding the exchange of tax information, which were established by entities such as the Organization for Economic Co-operation and Development and the European Union (OECD)
The memorandum recalls that the Government of Macau, with the support of the central government of China, has concluded the Agreement on Multilateral Authorities Responsible for the Automatic Exchange of Financial Information relating to Financial Accounts.
The government also stated that with the MSAR’s application of the agreement, the region will be able to effectively raise the level of compliance in international tax cooperation and maintain a good international image in the areas of tax practice and cooperation. This is particularly notable as these factors contribute to its international image and credibility.
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