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Friday, June 14, 2024

LRA PARTNERS WITH ECOBANK TO SIMPLIFY TAX PAYMENT

Date:

MONROVIA – The Liberia Revenue Authority (LRA) and Ecobank Liberia have introduced a groundbreaking integration of the Liberia Integrated Tax Administration System (LITAS) with Ecobank’s banking platforms. This collaboration marks a significant milestone in the ongoing digitization and streamlining of tax payment processes in Liberia.

LITAS, a high-tech digital tax payment system implemented by the LRA, offers comprehensive support for taxpayer registration, online filing, and payment, allowing users to access real-time information on tax balances and transactions. The integration also allows taxpayers to now receive in a timely manner, their electronic receipts after payment has been made.

The integration of LITAS with Ecobank’s diverse platforms, including Omni and Omni Lite Mobile App, as well as in-branch services, signifies LRA’s commitment to enhancing customers’ convenience in their tax payment experiences, said Commissioner General Thomas Doe Nah during the launch on Thursday (July 6).

With this development, Ecobank Liberia joins GT Bank as the second commercial bank to have fully integrated their platforms with LITAS.

LRA Commissioner General Nah commended both banks for their cooperative and professional partnership and extended an invitation to other commercial banks to join the initiative.

Underlining the importance of modernization and improving customer experience in revenue administration, Commissioner General Nah expressed the LRA’s commitment to digitalizing tax payment processes, with LITAS being a crucial tool in achieving this objective.

By simplifying tax payment through digital means, the LRA aims to eliminate cumbersome bureaucratic procedures, enhance compliance, expand the tax base, and boost revenue growth into the billions. “We are taking our revenue to the billions; I can’t tell you when we will get there, but I can assure you that the LRA will get there,” the chief tax collector noted.

Ecobank Liberia Acting Managing Director, David Thompson, expressed his enthusiasm for collaborating with the Government of Liberia through the LRA to facilitate seamless tax payment via the bank’s platform.

Thompson emphasized that Ecobank Account holders will now have the convenience of paying their taxes online from their offices, eliminating the need to visit banking halls solely for tax payment purposes.

He acknowledged the significance of Ecobank’s participation in this transformative trend, which will contribute to the efficient collection of the Liberia’s revenue.

The partnership between the LRA and Ecobank Liberia signifies a pivotal step towards the modernization of tax administration in Liberia. By leveraging digital technology, this integration will simplify tax payment processes, enhance efficiency, and promote economic growth.

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