SERBIA early this month deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (multilateral convention or MLI) with the OECD’s Secretary-General, Angel Gurría, therewith underlining its strong commitment to prevent the abuse of tax treaties and base erosion and profit shifting (BEPS) by multinational enterprises.

Liberia also signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters on June 11, making it the 122nd jurisdiction to join the world’s leading instrument for boosting transparency and combating cross-border tax evasion. The signing shows Liberia’s commitment to fully benefit from the exchange of information and the increase in tax transparency that the Convention offers, and marks a further step in Liberia’s efforts to implement international tax standards since it joined the Global Forum on Transparency and Exchange of Information for Tax Purposes and the Inclusive Framework on BEPS.