Harmful Tax Practices – 2018 Peer Review Reports on the Exchange of Information on Tax Rulings

Liberia

Liberia has met all aspects of the terms of reference (OECD, 2017[3]) (ToR) for the calendar year 2018 (year in review) that can be met in the absence of rulings being issued.

In the prior year report, Liberia did not receive any recommendations.

Liberia does not issue any type of ruling within the scope of the transparency framework. Theoretically, there is no impediment for Liberia to issue rulings, but in practice Liberia does not issue any rulings. As Liberia has adopted transfer pricing legislation in November 2016, it is now contemplating on implementing an APA framework. In the event that Liberia put in place the administrative process or develop the administrative capacity to issue rulings, Liberia notes that it would implement the transparency framework obligations.

As no exchanges were required to take place, no peer input was received in respect of the exchanges of information on rulings received from Liberia.

Introduction

This peer review covers Liberia’s implementation of the BEPS Action 5 transparency framework for the year 2018. The report has four parts, each relating to a key part of the ToR. Each part is discussed in turn. A summary of recommendations is included at the end of this report.

A. The information gathering process

As no rulings are issued, this section is not assessed.

B. The exchange of information

As no rulings are issued, this section is not assessed.

C. Statistics (ToR IV)

As no rulings are issued, no statistics can be reported.

D. Matters related to intellectual property regimes (ToR I.4.1.3)

Liberia does not offer an intellectual property regime for which transparency requirements under the Action 5 Report (OECD, 2015[5]) were imposed.

Summary of recommendations on implementation of the transparency framework

Aspect of implementation of the transparency framework that should be improved	Recommendation for improvement
	No recommendations are made.