Liberia has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, making it the 122nd jurisdiction to join the world’s leading instrument for boosting transparency and combating cross-border tax evasion.
According to a release from the Liberia Revenue Authority (LRA), the convention is the most comprehensive multilateral instrument available for all forms of tax cooperation to tackle tax evasion and avoidance, which is a top priority for most tax jurisdictions.
Finance and Development Planning Minister Samuel Tweah signed the instrument on behalf of the Liberian Government on in Paris, France, while the Deputy Secretary General of the Organization for Economic Cooperation and Development (OECD), Masamichi Kono, signed for the OECD.
The signing shows Liberia’s commitment to combatting tax evasion, tax crime, aggressive tax planning initiatives by multinational enterprises, as well as other base erosion schemes, and places the country in the position to fully benefit from the exchange of information with other jurisdictions with the proclivity of increase in tax transparency that the convention offers.
The convention is the key instrument for swift implementation of the Standard for Automatic Exchange of Financial Account Information in Tax Matters.
The Standard – developed by the OECD and G20 countries – will enable more than 100 jurisdictions to automatically exchange offshore financial account information beginning September 2018.
The convention is also a cornerstone for the implementation of the automatic exchange of Country-by-Country reports on the activities of multinational enterprises, under the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project, and is a powerful tool in the fight against illicit financial flows.
The New Republic Newspaper is an independent newspaper established in 2009 by a Liberian journalist, Alphonso Toweh with many years of experience for the key purpose of reporting a balanced coverage of events as well as promoting Liberia’s image locally and internationally.
Toweh has been working for Reuters News Agency as its correspondent since 1998 to present. In addition to that, he has served as correspondents for the following magazines: West Africa New African, Africa Week and African Observer.
More to that, he worked for Radio Deutche Welle radio in Germany, Radio Netherlands and contributed to CNN, BBC News hour, BBC TV as well as Africa Confidential and Sunday Times in London.
The paper has no political affiliation nor ethic lineage. The focus and primary commitment is to ensure the sovereignty of Liberia and unity for Africa. It seeks to foster human rights and freedom of the press.
The New Republic is a liberal paper dedicated to upholding the tenets of democracy. It believes that state can not only create the political, social, economic and cultural spirit, but also to ensure that all human beings, irrespective of any affiliation is able to achieve its highest human potentials.
The paper strives for free speech and equal opportunity for all. Importantly, it believes that the nation must intervene judiciously in the economic life, in order to minimise the adverse effects of free enterprise and ensure that less privileged people have reasonable and fair access to the basic necessities of life. By this, it would help reduce some level of threat.
New Republic brings huge commitment to its readers and offers the nation the type of media that will advocate for the people and nudge our nation on the path of development and social re-engineering