President Johnson-Sirleaf Seeks House Approval on New Revenue Code

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Monrovia – President Ellen Johnson Sirleaf has submitted a draft bill to the House of Representatives for enactment into law seeking to amend the revenue code of Liberia.

The purpose of the Act is to develop modern customs processes consistent with international standard and practices that will ensure the full benefits of legitimate international trade.

The “Act to Amend the Revenue Code of Liberia, Phase one of the Reform Tax Code of Liberia, A.D. as amended by the consolidated Tax amendment Act of 2001, to adopt a Modernized Customs Code (2017)”, will make Liberia’s custom code more compliant with World Trade Organization thus creating a closer integration in the world trading economy and also define the enforcement terms for custom officers in Liberia.

“If the Legislature acts in an affirmative manner, the country’s fragile economy will be boosted to ensure economic protection and security.”

The President indicated that the passage of the act into law will boost the economy and create a systematic approach of effective and persuasive sanctions for violations and fair procedures for penalty assessment and appeals.

The act was forwarded to the House’s Judiciary as well as Ways, Means and Finance Committees to advice Plenary for action within two weeks.

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