- Liberian President Joseph Boakai has submitted a draft bill to amend the Revenue Code for a new VAT regime
- The new VAT regime would replace the current GST regime, which has a general rate of 10%
- VAT regime allows for the deduction of input tax to enhance tax compliance and boost revenue generation
- Liberia is the only ECOWAS member state that has not adopted a VAT regime as required by the regional integration program
Source: ensafrica.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.
