The Liberia Revenue Authority (LRA) says the collection of taxes is being hindered by delinquency in payment.
LRA assistant commissioner for real estate tax, Lassana A. Kromah, told a press briefing at the Ministry of Information on Capitol Hill this week the real estate tax division is the LRA’s arm that is responsible for to collect taxes from real estate’s owners.
He said the division comprised of three sections namely, Accounts and Records, Valuation, and Enforcement. He explained that Real Estate Tax is paid annually, specifically due between January l to June 30th of the year in which it is levied, after which it becomes delinquent.
“Regrettably, this vision by our President has not been met as evidenced by the real estate tax annual contribution to the national fiscal envelop over the period, which is not more than one percent”, he disclosed.
He said the LRA through the Real Estate Tax division is expected to contribute seven million to the National Budget for the fiscal year 2015/2016.
According to the assistant commissioner, the mission and vision of the LRA is to professionally, fairly, transparently and effectively collect lawful revenue, facilitate legitimate trade and social protection, while being a professional revenue administrator by adhering to international standards and serving as a model for revenue collection and service delivery in the country. Kromah added that in order for the Real Estate Tax division to meet its projection, key strategies have been developed, which include a robust enforcement of collection of delinquent taxes through legal means.
Meanwhile, he disclosed the LRA is embarking on community partnership for revenue enhancement by engaging seven cities, 21 townships, and 150 communities in Montserrado County, which is a pilot project to be subsequently rolled out to Bong, Grand Bassa, and Nimba, respectively.
By Lewis S. Teh – Edited by Jonathan Browne