Liberia has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters making it the 122nd jurisdiction to join the Convention.
The Multilateral Convention on Mutual Administrative Assistance in Tax Matters is the most comprehensive multilateral instrument available for all forms of administrative co-operation between states in the assessment and collection of taxes with a view to combating tax avoidance and evasion.
This co-operation ranges from exchange of information, including automatic exchanges, to the recovery of foreign tax claims. 122 jurisdictions currently participate in the Convention, including 17 jurisdictions covered by territorial extension.
In May 2018, the People’s Republic of China extended the territorial scope of the Convention to the Hong Kong and Macau Special Administrative Regions pursuant to Article 29. As such, The Convention will enter into force for both Hong Kong (China) and Macau (China) on 1 September 2018.