The Liberia Revenue Authority (LRA) said it generated US$513.8 million, or 74% of the total domestic revenue envelope of US$694.4 million, representing a 12% increase in domestic revenue compared to the same period last year.
Commenting on LRA’s announcement via Facebook, Liberians lashed out at LRA raising concerns about lavish spending, fiscal indiscipline, mismanagement, and corruption.
The latest revenue generation represents a 12% increase compared to the same period last year and exceeds the year-to-date revenue target by $54.3 million.
For the 2024 national budget, the target is set at $738.86 million, with $696.4 million expected from domestic tax collections and $42.4 million from external sources.
Notably, no contributions have yet been received from external sources, meaning, all revenues collected so far have been generated domestically.
This underscores the critical role of domestic revenue mobilization in meeting budgetary goals. Commissioner General James Dorbor Jallah commended Liberia’s taxpayers for their essential contributions. Since his appointment in March 2024, the LRA has consistently surpassed monthly revenue collections compared to 2023, and aims to reach the $1 billion mark in the coming years.
The LRA also acknowledged the efforts of its management team, dedicated employees, and external stakeholders, emphasizing strong partnerships with various government ministries and agencies involved in revenue collection. This collaborative effort aims to enhance the government’s capacity to invest in public services, infrastructure, and national priorities, thereby supporting Liberia’s development agenda.
“We are encouraged by our progress so far,” said CG Jallah. “However, we remain focused on achieving even greater results in the coming months. I commend every taxpayer, our staff, and all our partners for their tireless contributions. Together, we are building a stronger foundation for Liberia’s future.”
In response to recent media publication concerning the purchased of a $96,000.00 vehicle for the former Commerce Minister, Amid Modad, which the LRA and its leadership received backlash, CG Jallah urged staff and stakeholders to remain focused on their shared commitment to increasing domestic revenue.
He emphasized the importance of unity and trust amidst external challenges, encouraging everyone to verify information through reliable sources. The LRA is dedicated to creating an enabling environment for tax compliance, simplifying processes, and ensuring transparency.
It continues to invest in digitalization initiatives to streamline tax payments and minimize revenue leakages. Looking forward, the LRA plans to enhance outreach and taxpayer education programs to ensure that more individuals and businesses understand their tax obligations and the impact of their contributions on national development.
As a testament to the importance of taxpayer contributions, the LRA disclosed that it will host National Taxpayer Appreciation events in November to honor the country’s highest and most compliant taxpayers for their vital role in Liberia’s progress.
