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Thursday, May 23, 2024

JOINT ECOWAS, WAMI & WAMA MISSION HOLDS STRATEGIC REGIONAL TALKS WITH LRA

Date:

MONROVIA – The Liberia Revenue Authority (LRA) today held an engagement meeting with a joint sub-regional surveillance mission to Liberia, outlining the country’s progress in domestic resource mobilization.

The Mission comprises representatives from the West African Monetary Institute (WAMI), ECOWAS Commission, and the West African Monetary Agency (WAMA).

Thursday’s engagement with the LRA focused on assessing regulatory policies, initiated tax reform programs, and other developments and initiatives the LRA is taking to boost the country’s revenue collection.

LRA Commissioner for Domestic Tax, Darlington Y. Talery highlighted the ongoing automation of Liberia’s tax system, the application of Exercise Stamps on alcoholic and tobacco products, real property tax expansion, and the implementation of Liberia’s domestic resource mobilization strategy roadmap as some milestones.

He indicated that these initiatives stimulate the collection of the required taxes and accelerate revenue growth.

LRA Deputy Commissioner General for Technical Affairs Gabriel Montgomery expressed gratitude to the joint team for their visit and high level of interest in the LRA. He said the LRA remains committed to its mandate and implementing regional tax reform policies that will boost revenue growth.

The joint regional Mission is holding talks with the government and relevant national stakeholders on fast-tracking the preparation of Liberia’s Macroeconomic Developments and Convergence Report as of December 2022.

The head of the delegation and Director of the Multilateral Surveillance and Trade Department of WAMI, Dr. John Kotuku, thanked the LRA Administration for its professional work.

Dr. Kotoku said, “Liberia is a modern example of domestic revenue collection through the great work being done at the LRA. We are excited and impressed by the work being done despite the challenges”.

The Mission’s activity is under Article 15 of the statute of the West African Monetary Zone (WAMZ), referenced to the multilateral surveillance mechanism of the zone.

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Smart News Liberia is an online news outlet and a product of Smart Media Group Inc. Our website, smartnewsliberia.com, covers a broad spectrum of news content. For inquiries or information, you can reach us at 0777425285 or 0886946925, or email us at smartnewsliberia@gmail.com or info@smartnewsliberia.com.

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