- President Boakai wants Liberia to transition from Goods and Services Tax to Value Added Tax
- He has written to the House of Representatives seeking a proposal to amend the Liberia Revenue Code
- The proposed VAT law aims to fulfill Liberia’s commitment to the ECOWAS regional integration program
- VAT adoption will fix the shortcomings of the current GST regime and enhance domestic revenue generation
- The government collaborated with stakeholders to draft the VAT law, including local authorities and development partners
- The VAT is proposed to be a neutral tax, broad-based with minimum exemptions, transparent, and encourages voluntary compliance
- The communication has been forwarded to committees for further review and reporting next Thursday.
Source: thenewdawnliberia.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.
