Gov’t to review taxes

President George Manneh Weah’s nominees for senior level positions at the Ministry of Finance and Development Planning, Comptroller General Designate Janga Kowo and Deputy Minister Designate for Fiscal Affairs Samora Wolokollie say government will review tax regimes here to meet current realities to ease difficulties faced by the business community.

The two officials made the pledge Friday, 2 February when they appeared for a joint confirmation hearing before the Liberian Senate on Capitol Hill in Monrovia.

Mr. Samora Wolokollie suggested at the joint confirmation hearing that government must not over tax the business community, with expectation that the business community will in return pay its fair share of any legitimate tax that has been assessed in consonance with the Revenue Code of Liberia.

The finance officials designate say they will work with the relevant stakeholders to ensure that Liberia’s tax regime is reviewed with the hope of eliminating those taxes and practices that place hindrances to the business community and economic growth.

According them, they will also strengthen those areas that stimulate economic activities here. In a presentation, Mr. Wolokollie stated that they will work with the Liberia Revenue Authority (LRA) and the Ministry of Commerce to ensure that a conducive and business – friendly atmosphere is maintained and sustained.

“We will make it a priority to ensure an open line of communication between our office and our stakeholders (Liberia Chambers of Commerce and Liberia Business Association) to foster our collaboration in pursuit of unlocking the potential of our economy,” Mr. Wolokollie says.

According to him, the economy is under enormous stress right now, and as Deputy Minister Designate for Fiscal Affairs, he will, in consultation and collaboration with the Liberian Legislature and his colleagues in the Executive, bring to bear whatever fiscal tool is there to help remedy the current economic situation.

“Ours will be a pro-poor approach. The potentials of our economy got to be unlocked. In so doing, existing practices, policies and regulations will be subject to review. We must encourage free and fair competition; we must eliminate anything that possesses unnecessary hindrances to free trade,” Mr. Wolokollie concludes.

By E. J. Nathaniel Daygbor–Edited by Winston W. Parley