Liberia: LRA CG Launches New TIWB Capacity Building Program To Boost Liberia’s Revenue Collection
MONROVIA – Liberia Revenue Authority (LRA) Commissioner General Thomas Doe Nah today launched the second phase of the Tax Inspectors Without Border (TIWB) capacity-building program to bolster the domestic resource mobilization capacity of Liberia. Partnering with the African Tax Administration Forum (ATAF) for this new program, TIWB is a joint initiative of the Organization for Economic Co-operation and Development (OECD) and the United Nations Development Programme (UNDP) launched in 2015 to strengthen developing countries’ auditing capacity and multinationals’ compliance worldwide.
“Today is another milestone in the collaboration with our international partners as we launch this capacity-building project that will expand our Transfer Pricing program to the telecommunication, gaming, manufacturing, banking and insurance sectors,”
The LRA Commissioner General stated during the virtual launch. The Commissioner General recalled that TIWB/ATAF support to the LRA since 2016 has been rewarding, especially in the areas of auditing multinational and subsequently recovering millions of dollars in revenue.
With the help of TIWB, the Liberia Revenue Authority was able to commence eight audits of Multinational Enterprises. Seven of these audits were completed from 2016 to 2022, enabling the LRA to discover and recover the amount of US$16.54 million in taxes.
The Commissioner General expressed the conviction that the second phase of the TIWB project will build capacities of auditors in the Domestic Tax Department to uncover hidden revenues in the targeted sectors and boost domestic resource mobilization as the country gradually takes its revenue to the billions. “We want to thank TIWB, OECD and ATAF for this initiative which is crucial to our domestic resource mobilization efforts. The LRA is excited that this effort is going to add substantial value to our work through well-targeted assistance,” CG Nah said.
The Head of the Secretariat, Rusudan Kemularia, underlined the initiative’s commitment to supporting LRA in its endeavors. “I am confident that this programme will allow the Liberia Tax Administration audit team and management to develop long-term technical skills, foster tax compliance and strengthen domestic resource mobilization” she stated.
Ms. Mary Baine, ATAF’s Deputy Executive Secretary and Head of Member Services and Domestic Resources Mobilizations applauded the initiative and underscored its importance: “It is therefore pleasing for us to embark on this project where the aim is to improve revenue mobilization, specifically looking at transfer pricing capacity building and the support to audit cases. It is clear that the more we focus on this area, the higher the impact.”
The key objective of TIWB is to assist the LRA to become independent in auditing complex transactions associated with multinational enterprises. Since 2016, the capacity of LRA auditors, particularly the Natural Resource Tax Section, has and continues to greatly improve especially in selecting and identifying complex transactions carried out by multinationals for Audit.