Tax agreements inked with new jurisdictions

The Government of Macau published yesterday in the Official Gazette agreements with the United Kingdom and Northern Ireland, Guernsey and Argentina for the sharing of tax information.
Although the agreements were announced some months before, they were only signed on September 3 (United Kingdom and Northern Ireland, and Guernsey) and on September 5 (Argentina).
The agreements will come into force 30 days after the governments of the involved parties have taken care of all the formalities necessary at local level.
Last week, the Financial Services Bureau also announced that in order to enhance tax transparency and combat cross-border tax evasion Macau, as a member of the OECD Global Forum on Transparency and Exchange Information for Tax Purposes, would implement the Common Reporting Standard, enabling automatic exchange of financial account information for tax purposes among jurisdiction members.