FATCA/MCAA
Developing a standard agreement for bilateral or multilateral financial information exchange with the United States to identify and verify tax litigants in the countries concerned and exchange financial information in the FATCA/MCAA account. That is, financial institutions, such as domestic banks or insurance companies, must regularly provide information to the government that have signed U.S. agreement when they have transaction accounts of the corporations and residents in the countries that have signed the FATCA/MCAA agreement for more than a certain amount of money.

* FATCA(Foreign Account Tax Compliance Act) : It is the U.S. law designed to prevent U.S. taxpayers around the world from avoiding taxation by opening an account at an overseas financial firm and not reporting their nationalities, identities, and taxable income.
** MCAA(Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information): After the agreement of the bilateral automatic exchange of financial information with the United States, agreements have been promoted to exchange financial information of customers with tax consequences in each country, such as in relation to OECD and the G20, and reporting standards and procedures for financial accounts are defined in the OECD Common Reporting Standard (CRS).