The Liberia Revenue Authority (LRA) and the Federal Inland Revenue Service of Nigeria have (FIRS) signed a Memorandum of Co-operation to strengthen ties between the two tax collecting bodies.
According to a press release, the signing ceremony took place recently in Abuja, Nigeria at Headquarters of the Federal Inland Revenue Service, with LRA Commissioner General Elfrieda Stewart Tamba and FIRS Executive Chair Dr. Tunde Fowler signing for their respective institutions.
Speaking during the signing ceremonies recentlty, CG Tamba firstly conveyed appreciation to the FIRS for its commitment to knowledge sharing with the LRA and stressed the importance of Domestic Resource Mobilization as a sustainable way through which the continent can impel its own developmental initiative, as donor assistance dries up.
FIRS Executive Chair Fowler welcomed the initiative and described it as a platform to strengthen institutional capacity, capability and performance of tax administration of the two taxing bodies.
The release said areas of cooperation under the memorandum will include exchange of information and best practices; identification, initiation and development of pilot projects in the areas of revenue administration; provision of technical assistance, including capacity building and training; development of common approaches towards risk profiling, risk assessment and revenue protection measures, among others.
Commissioner General Tamba believes that the MOU will serve common interests and contribute to strengthening capacity of the LRA. Press Release