Malta Signs Tax Treaty with Macau
News    ·   29-07-2013

AUTHOR: Donald Vella

Malta and Macau recently signed an agreement with the aim of working together to prevent tax evasion and tax avoidance.

The relevant legal arrangements between both jurisdictions have been completed and the treaty is expected to enter into force in January 2014. The tax treaty will allow the authorities in Malta and Macau access to data on the financial position and income of their citizens, including information “relevant to the determination, assessment and collection of taxes, the recovery and enforcement of tax claims, or the investigation or prosecution of tax matters.”

Under the treaty, the tax authorities may share information held by banks or other financial institutions. They will be able to share information about the direct or indirect ownership of companies, trusts and foundations, as well as partnerships.

Details of the tax treaty will be provided once it is published.

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