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EU clears Liberia off Common EU list of Third Country Jurisdiction…

Varflay Kamara/Maximilian Kasseh,Jr.

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 list is part of EU’s work to fight tax evasion and create a strong deterrence for countries that consistently refuse to play fair on tax matters.

Guam, Samoa, Trinidad and Tobago, and the US Virgin Islands among others are some of the countries on the EU list of non-cooperative for tax jurisdiction.

According to a release issued Monday, February 25, 2019, the EU said the overall goal of the list is to improve good tax governance and ensure the EU’s international partners respect the same standard as EU member states.

The list, according to the release, is as the result of thoroughly screening and dialogue process with non-EU countries to assess them against agreed criteria for good governance.

The criteria were agreed by EU Member States at the November 2016 ECOFIN and have since been used as the basis for s screening ‘scoreboard.’

The EU tax standard is aimed at ensuring tax transparency, fair taxation, the implementation of the Organization for Economic Cooperation and Development-Base Erosion and profit shifting as requirements for zero-tax countries.

 


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