LRA benefits US$498,000 grant

 

The Open Society Initiative of West Africa (OSIWA) has approved a US$498,000 grant to the Liberia Revenue Authority (LRA) to help bolster the authority’s domestic resource mobilization drive.


A press release from the LRA says the grant agreement was recently signed between Rue Ibrahima, Head of OSIWA Dakar Office and LRA Commissioner General, Mrs. Elfrieda Stewart Tamba.

The Vera Mshana OSIWA-led mission in 2016 and the local office team were instrumental in consummating the grant, according to the release, which details that the Grant will be released to the LRA in three tranches over a period of 18 months.

Commissioner General Tamba has applauded OSIWA for the grant and indicated that it will be used to conduct an audit in the maritime sector, develop a framework for tax expenditure reporting and produce the first comprehensive tax expenditure report to include both customs and tax and accelerate the preparation of LRA Practice Notes.

She says the funding will support tax awareness by the establishment of over 10 tax clubs in schools across the country to sensitize tomorrow workforce of the importance of taxation and paying taxes as a civil responsibility.

“The long-term aim is to facilitate voluntary compliance and a positive tax attitude for paying a fair share of lawful taxes thereby ensuring sustainable development for mama Liberia”, the release reads.

Meanwhile, the LRA through its Customs Compliance and Enforcement Division, has discovered 20 fake revenue instruments in the last few days.

The institution says it has observed a grand syndicate in the production of fake revenue instruments, including vehicle registration, driver’s license certificates, government flag receipts, customs documents, as well as business registration documents.

It reveals that two suspects allegedly involved in the production of fake revenue documents, robbing the country of legitimate revenues have been forwarded to the Liberia National Police for further investigation.

“Most of those involved in the unscrupulous acts are reported to be expeditors and employees of government ministries and agencies, who are conniving with other fraudsters outside. The criminal act extends beyond vehicle and business registration certificates”, the LRA narrates.

It calls on the public to help stand up against this threat to economic development by reporting all such acts, warning that those involved will not escape with impunity. Press Release

Top
We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…