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Gov’t launches tax Arrear Payment Incentive scheme

James Akoi/Benjamin S. Taingay
LRA Head Office at ELWA Junction in Paynesville
LRA Head Office at ELWA Junction in Paynesville

MONROVIA, LIBERIA-The Liberian Government has launched the Tax Arrears Payment Incentive Scheme to help boost businesses and ensure tax compliance.

Under the scheme, owners of businesses will pay reduced amounts in taxes to enable them contribute towards sustained economic growth and national development.

LRA Head of Accounts and Records, Robert Kpan, made the disclosure Friday, October 7, 2016 in an ELBC interview in Paynesville, outside the Liberian Capital, Monrovia.

According to Mr. Kpan: “Government has taken the decision to reduce tax payments for businesses, because of the dreadful effect of the Ebola Virus Disease on Liberia since a year ago.”

“Businesses that paid between January to April, 2016 got 100% tax reduction, those that paid between July to December the same year got 50% tax reduction and businesses that will pay between January to June 2017 will received 30% tax reduction,” he explained.

Meanwhile, Mr. Kpan says every Liberian with real estate properties, including zinc houses, is required to pay taxes.

He described real estate property as vacant land, concrete structures, among others.

According to the Head of the Real Estate Tax Division, owners of huts and mud houses are exempted from tax payment.

He further noted that all real estate property owners are required to settle their tax obligations in 30 days.

 

 


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