Ecobank Named as the ‘Most Compliant Taxpayer’

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Mr. Asante displays the award

LBDI Plans to unseat  

The Government through the Liberia Revenue Authority (LRA) on Saturday, July 1, awarded several taxpayers with the pan-African commercial bank, Ecobank Liberia, named as the ‘Most Large Compliant’ taxpayer.

The ‘Most Compliant Taxpayer Award’ is given to a company that fulfills its obligation to the LRA in paying their rightful and legitimate taxes over the fiscal year under review.

Accordingly, Ecobank was regarded as a bank that was compliant with the government within the fiscal year 2015/2016 and therefore won the Gold Award from LRA.

Ecobank was given the award at the Taxpayers’ Appreciation Day ceremony organized by the LRA in collaboration with the Ministry of Finance and Development Planning (MFDP) and USAID RG3 Project, held at the Monrovia City Hall.

Presenting the prize, Vice President Joseph Boakai lauded Ecobank for being a good taxpayer, stressing that this is in support of the nation’s development process.

“I want to thank you for being tax compliant, especially so as this is part and parcel of our nation-building process. Thank you ever so much and I want to thank the LRA for this great initiative,” he told the bank’s Managing Director, George Mensah-Asante.

Veep Boakai then called on other banks, business individuals within the territorial confines of Liberia to also be tax compliant in a bid to promote economic growth and development.

Mr. John B.S. Davies, president of the Liberia Bank for Development and Investment (LBDI) and Liberia Bankers Association (LBA), who presented the Most Tax Compliant prize to Medium Enterprises, won by Family Health International and the Catholic Archdiocese of Monrovia and Sharks’ Incorporated, said “micro taxpayers are the smallest of all small guys and small ladies” and the fact that they are also being recognized by the LRA shows that indeed the government is taking quantum leaps and bounds in getting everyone to voluntarily comply with the tax regime in the country.

“Again, to the LRA, thank you very much for making all of us constructively envious and to our partners (Ecobank) in progress who have been recognized today. “I can tell you as I sat in my chair; I was already plotting as to how I can unseat Ecobank next year. “Oh, yes. This is good for our country, because it pricks your  cautious to look for ways to do better; and by being better, our country gets up greater opportunity to develop,” he said.

Ecobank Managing Director, George Mensah-Asante, dedicated the award to all the bank staff, particularly to the customers for making such history. He lauded other companies and individuals who won the awards for tax compliance and highest taxpayers over the year in review to maintain and win the highest tax payer award next year.

“For us, providing banking services is okay but we want to make a positive impact in a nation where we operate,” he said. He therefore encouraged Liberians to deal with Ecobank, because when they bank with us they will also be helping in the rebuilding process of Liberia.

“We also encourage competition. It is a good idea so that as we compete, everyone will be paying the rightful tax to LRA and they will receive more money and the nation will benefit. So we welcome the competition by LBDI and other banking institutions, but they should know that we will always remain a success,” the Ecobank stated.

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