The European Union Delegation to Liberia has clarified that Liberia is not listed on the 2018 Common EU list of Third Country Jurisdiction for Tax Purposes.
The overall goal of the EU list is to improve tax good governance globally, and to ensure that the EU’s international partners respect the same standards as EU Member States do.
As of December 2018, five jurisdictions remain on the ‘blacklist,’ but Liberia is not in this category, the EU delegation in Liberia said in a press statement on Monday.
The list is a result of a thorough screening and dialogue process with non-EU countries, to assess them against agreed criteria for good governance.
These criteria relate inter alia to tax transparency, fair taxation, the implementation of the Organisation for Economic Co-operation and Development-Base Erosion and Profit Shifting (OECD BEPS) measures and substance requirements for zero-tax countries.
The criteria were agreed by Member States at the November 2016 ECOFIN and used as the basis for a screening “scoreboard,” the release said