President Boakai Proposes VAT Reform to Boost Revenue Generation in Liberia

• President Boakai proposes replacing Goods and Services Tax with Value-Added Tax in Liberia
• VAT is seen as a way to enhance tax compliance and boost revenue generation
• Liberia is the only ECOWAS member state yet to adopt VAT
• Stakeholders were consulted in the development of the VAT proposal
• USAID supported engagements with various groups to discuss VAT implementation
• President Boakai emphasizes the importance of VAT reform for Liberia’s revenue generation
• The proposed VAT law is under review by the Committee on Ways, Means and Finance, Judiciary, Public Accounts and Expenditure

Source: frontpageafricaonline.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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