Multilateral Competent Authority Agreement (MCAA)

The Multilateral Competent Authority Agreement (MCAA) is an international framework that allows countries to automatically exchange financial account information with each other. This agreement helps governments ensure tax compliance by sharing data about assets held by their residents abroad. Under the MCAA, participating countries coordinate to swiftly and securely share information, reducing tax evasion and improving transparency. It is a key component of global efforts to combat offshore tax avoidance, making sure taxpayers report income accurately across borders.