Global Forum on Transparency and Exchange of Information for Tax Purposes: Macau, China 2020 (second round) : peer review report on the exchange of information on request

This report analyses the implementation of the international standard of transparency and exchange of information on request in Macau (China) on the second round of peer reviews conducted by the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum). It assesses both the legal and regulatory framework in force as of 3 January 2020 and the practical implementation of this framework against the 2016 Terms of Reference, including in respect of exchange of information (EOI) requests received and sent during the review period from 1 October 2014 to 30 September 2017. Table of contents Reader’s guide Abbreviations and acronyms Executive summary Overview of Macau (China) Part A: Availability of information A.1. Legal and beneficial ownership and identity information A.2. Accounting records A.3. Banking information Part B: Access to information B.1. Competent authority’s ability to obtain and provide information B.2. Notification requirements, rights and safeguards Part C: Exchanging information C.1. Exchange of information mechanisms C.2. Exchange of information mechanisms with all relevant partners C.3. Confidentiality C.4. Rights and safeguards of taxpayers and third parties C.5. Requesting and providing information in an effective manner Annex 1: List of in-text recommendations Annex 2: List of Macau’s EOI mechanisms Annex 3: Methodology for the review Annex 4: Macau’s response to the review report