Several key state institutions here have been given tax exemption through Executive Orders – 77, 78 and 79 respectively, issued by President Ellen Johnson Sirleaf over the weekend.
The institutions, National Transit Authority, Liberian Broadcasting System, Liberia Water and Sewer Corporation and the Liberia Electricity Corporation are exempted from customs duties on fuel and lubricants, selected items and GST on fuel.
Executive Order No. 77 exempts the National transit Authority and Liberia Broadcasting System from Customs Duties on fuel and lubricants and seeks to minimize the cost of transportation provided by the NTA in serving the general public, as well as enables LBS to disseminate information to the general public through the state-owned Liberian Broadcasting System.
Executive Order No. 78 also exempts the Liberia Water and Sewer Corporation from Customs Duties on selected items to ensure the provision of safe-drinking water and sewerage services for the population, recognizing that safe-drinking water and basic sanitation are crucial to the preservation of human health and basic hygiene.
According to Executive Order No. 78, it covers items imported or purchased by Liberia Water Sewer Corporation for the exclusive use of the LWSC to facilitate the provision by LWSC of water and sewer services are exempted from payment of customs duties, including petroleum for water treatment plant(s), water treatment chemicals, pipes and fittings, generators, pumps (electrical and diesel), spare parts for mechanical and electrical equipment and other parts and equipment essential for the production of water and disposal of waste.
Meanwhile, Executive Order No. 79 further exempts the Liberia Electricity Corporation from Customs Duties and GST Fuel to generate electricity imperatively at this time of rising cost and rapid development as reduction on electricity tariffs will stimulate economic growth and boost the associated revenues from GST. Executive Order (79) also notes that in the absence of hydro or alternative power, fuel is the key ingredient in the generation of electricity in Liberia by the Liberia Electricity Corporation, as such, the generation of electricity at a reasonable cost is essential to maintain an affordable balance in the cost of living.