The OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) has published a list of over 125 countries and jurisdictions that are collaborating to implement the BEPS Package. BEPS refers to tax avoidance strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations.
This list allows interested jurisdictions to work with the OECD and G20 members to ensure that profits are taxed where economic activities generating profits are performed and where value is created. As a member, Liberia is required to develop a monitoring process for the four minimum standards, as well as put the review mechanisms in place for other elements of the BEPS package.
We are proud to confirm Liberia’s Membership of the Inclusive Framework, please see the full report here. This proves that Liberia continues to take its international obligations seriously and strive for excellence in accordance with OECD standards.