MONROVIA, LIBERIA-The Executive Branch of the Government of Liberia has written the National Legislature for the amendment of Chapter 10 of the Liberia Revenue Code of 2009.
The proposed amendment seeks the adoption of the Value Added Tax (VAT) to replace existing goods and services tax regime.
It says Liberia is the only ECOWAS member state yet to adopt the VAT as required by the body’s regional integration program.
In the communication, President Joseph Boakai said:” The amendment will fulfill Liberia’s commitment to regional fiscal integration program and improve the tax system.”
President Boakai added that the adoption will serve as a catalyst for improving tax compliance and maximizing revenue generation.
Meanwhile, the communication has been sent to the Committees on Ways, Means, Finance, Judiciary, Public Accounts and Expenditure, to report on Thursday.
By: Emmanuel Kollie
