- Liberia is progressing legislation to replace sales tax with a value-added tax
- Current tax regime does not allow taxpayers to claim input tax credits
- New VAT regime will allow taxpayers to claim refunds and promote compliance
- Implementation of VAT fulfills commitment made by Liberia as an ECOWAS member
- Liberia is the final ECOWAS member state to introduce a value-added tax
- Legislation has been approved by lower house and now awaits approval from the Senate
Source: answerconnect.cch.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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