Business

Breaking News

PPCC Boss wants private sector entrepreneurs pay taxes

Patrick Flomo/Benjamin S. Taingay
 PPCC Chief Executive Officer, James Jallah
PPCC Chief Executive Officer, James Jallah

(elbcradio.com/June 20, 2015)-The Public Procurement and Concessions Commission’s (PPCC) Chief Executive Officer, James Jallah, wants private sector entrepreneurs meet up with their quarterly tax obligations.

Mr. Jallah warned that companies failing to regularize their tax obligations with the Liberia Revenue Authority (LRA), will be disallowed participate in the Government’s contract bidding process during the 2015-2016 fiscal year.

The PPCC official made the statement Thursday, June 18, 2015 at a one-day workshop on public procurement for the private sector.

According to the Liberia News Agency (LINA), the workshop was organized by the PPCC and is being held at the Monrovia City Hall.

Mr. Jallah said the law establishing the PPCC provides that all taxes and relevant documents of companies and business entities should be made available to the Commission before they are eligible to participate in the bidding process for government contracts.

The PPCC Chief Executive Officer noted that it is critical for business entities to comply with such measures to guarantee their full participation in the bidding process.

He further noted that the requirement for business entities to be listed on the Vendors’ Register will enforce tax compliance and result into revenue generation.

The PPCC Boss said the requirement for placement on the Vendors’ Register help enlargen the resource envelope to enhance national development.

 


Copyright 2012 Mylbsonline.com All Rights Reserved.