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EMT to immediately review Revenue Code

Arthur Douglas/Jacob Parley
Some demonstrators of the business community  that locked down Monrovia in the three days protest.
Some demonstrators of the business community that locked down Monrovia in the three days protest.

MONROVIA-The Economic Management Team (EMT) has commissioned an immediate review of the recent amendments to the Revenue Code.

The review will correct provisions inconsistent with the requirements of the ECOWAS Common External Tariff (CET) regime.

The ECOWAS Common External Tariff (CET) regime allows a three-year accession window to avert any unfair burden being placed on the business community and consumers.
 
Following a review of the amendments, a new bill correcting the identified inconsistencies will be submitted to the National Legislature for passage into law.

According to an Executive Mansion release issued on February 6, 2017, the decision was reached during separate meetings of Economic Management Team and the cabinet, under the leadership of President Ellen Johnson Sirleaf.

The release further stated that the meetings were convened to address the current economic situation in Liberia, with emphasis on enhancing ongoing efforts to ensure modification through agriculture and manufacturing.

During the meeting, the Economic Management Team and Cabinet also spoke about a steady decline and stability in the Liberian Dollar to US Dollar rate as a result of continuing efforts by the Central Bank of Liberia and the Finance Ministry over the past weeks.

 


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