Senate, House Approve 15-year Tax Cut for Musons Group

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Partial view of Lawmakers voting

By Leroy M. Sonpon III

A special 15-year tax holiday, known as the Investment Incentive Contract, in favor of a group of Liberian professionals and investors – the Musons Group, Inc. (MGI) – to build a hotel in Marshall City, Margibi County, has been ratified by the Senate and the House of Representatives.

The hotel investment is worth upwards of US$70m.

The contract is intended for the construction, development, and maintenance of a 210-room state-of-the-art hotel and resort with recreational facilities.

Last Tuesday the House of Representatives approved “the Investment Incentive Agreement between the Government of Liberia and Musons Groups, Inc,” which marked the concurrence with the Senate, entitled Engrossed Bill No.3.

The harmony of the draft law from both Houses is expected to be communicated to President Ellen Johnson Sirleaf for approval.

Members of the House acted in concurrence based on the Senate’s passage and did not wait for the advice and revision of the Joint Committee on Investment and Concession, Judiciary, and Ways, Means Finance and Development Planning, as mandated by plenary, because of a motion proffered by Hon. Clarance Massaquoi.

It may be recalled that in a letter to House Speaker J. Emmanuel Nuquay, the President said the purpose of the Investment Incentive Agreement is to actualize government’s initiatives to attract and encourage investors in and to the country.

The agreement was signed by the Ministry of Finance and Development Planning, National Investment Commission and attested by the Ministry of Justice on behalf of the Executive Branch of Government.

“These recreational facilities when completed will develop the tourism sector, will provide jobs, generate revenues, provide opportunities for Liberians to showcase their talents and improve the livelihood of the citizens,” the President wrote.

She added: “The aim of this Investment Incentive Agreement is to develop and put Liberia’s hotel and tourism sectors on par with…developed nations, encourage the construction of facilities that will attract world leaders and other world dignitaries to consider hosting major conferences and other global activities in Liberia.”

The President also said the Agreement “is in line with Liberia’s relevant laws and public policy and compliments the development of the hotel and resort sector of Liberia thereby attracting tourists.

“As government commits to creating jobs and a sustainable economic environment, the passage into Law of this Investment Incentive Agreement will demonstrate Liberia’s commitment and implementation in that endeavor.”

The MGI is comprised of Liberian professionals with a common objective of developing an organized, committed and focused institution, MUSONS GROUP, Incorporated, which was established on August 5, 1996.

Mr. Joe Gene Mulbah is the president and CEO.

6 COMMENTS

  1. We need a public hearing on this group. This woman is the worst administrator of our life time. We need to know who are the members of this group and what % the projected revenue /profit will be invested into the local and national economy. Is this a trend/precedent for other Liberian businesses or is this a special case for a select few with presidential/legislative interest and kick-backs.
    One would wonder why the administration is not using such tax breaks to construct more manifold projects as roads and bridges that would provide national benefits to all citizens, example, multi lane highway from Monrovia to Roberts field. We need to know what is the total amount of the tax break for 15 years in cost to the Liberian economy in monetary value. Has this been made public, do the members of the legislature who voted for this tax break know the value of the tax break for 15 years.
    Fellow Liberians, it is now time to hold these people accountable for votes that they take on our behalf. Again, where is the press? Is there no one in the entire press cable to ask important questions from the president and legislature. OH GOD, is there not a man or woman in Liberia with the overall interest of our country at heart? Where are the Religious leaders? Are you all dead ? May God send us a new group of fearless leaders to save the REPUBLIC, so we may be able to say LONG LIVE LIBERIA HAPPY LAND. God WE ARE WAITING ON YOU.

  2. look at them. Bunch of ignorant blood suckers. It is time for us to rise up and kick these people from power. I hope we get a dictator who will put Liberia first and all these so-called senators will be kicked out of office. Every one of them have a part in this group. They cannot pass the land act but they can raise their stink arms for tax cut.

    • They all receive their owner tax cut in the brown envelop.. isn’t that how the sign the deal with Fireston 125 year ago!!!

  3. 15 year tax cut !!!.. the worst tax cut for any government to offer to a company.
    There’s no differ from Fireston deal that sign 125 year ago.

  4. JOHN sir, what is your point? 125 years and today, what is wrong and not in the interest of the country is what we are talking about. People should learn from mistakes and not repeat them because some other people did it in the past. We are not going backwards sir.

  5. To give a single hotel such incentive, while others in the same business are struggling; It’s simply wrong. Such an INCENTIVE, must be INDUSTRY–WIDE if the Government wants to play NICE. Think it all over. Don’t be Penny Wise and Pound Foolish.

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