(Monrovia, November 10, 2019): The Liberia Revenue Authority (LRA), with support from USAID’s Revenue Generation for Governance and Growth (RG3) Project, in collaboration with the Ministry of Finance and Development planning (MFDP), has completed a two-week outreach activity on the Revised Excise Tax Law of Liberia.
The awareness and sensitization activities were conducted in Bong, Margibi, Grand Bassa and Cape Mount Counties.
During the exercise brought together business owners, LRA’s rural collectors, student grouping and marketers to understand the new law.
The excise law which was revised by the National Legislature came into effect July 1, 2019. The law levies taxes on cigarettes and tobacco products, alcoholic beverages, gambling equipment and certain cosmetic Products, imported Water and expensive used cars.
The Revised Excise Law places emphasis on these commodities mainly due to their health implications and negative effects on the population, among others.
As part of enforcing the law, the LRA will introduce excise stamps and seals on cigarette packs and liquid bottles to ensure fair market practices among importers and manufacturing companies. The awareness activities ran from October 20 to November 2, 2019.