​Macao and US sign Model 2 FATCA IGA

The US Treasury Department has updated its FATCA website, reporting that ​Macao and the US have signed a Model 2 intergovernmental agreement (IGA).

A Model 2 agreement requires financial institutions to disclose account details directly to the US tax authority with the consent of the US clients concerned.

The US has treated Macao as if it had an IGA in effect as of November 30, 2014.

The text of the IGA is available.

See:

• ​Model 2 agreement