Last updated: 09:15 / Wednesday, 30 December 2015
By signing OECD MAP agreement

Monaco and China Pressure the US to Apply FATCA

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Monaco and China Pressure the US to Apply FATCA

On December 15 and 16, Monaco and China signed the multilateral OECD MAP agreement on automatic exchange of information, therefore, raising the number of jurisdictions that will automatically exchange information to 77.

Both countries will exchange information in 2018 about data of 2017.

According to the law firm Broseta, “the signing of the Multilateral MAP by a country such as China will probably increase the pressure on the US to bilaterally apply FATCA and, therefore, to exchange automatic information with countries with which the US has FATCA agreements”.

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