The Open Society Initiative for West Africa (OSIWA) has approved a US$498,000 grant to the Liberia Revenue Authority (LRA) to help bolster the Authority’s domestic resource mobilization drive.
According to an LRA release yesterday the agreement was recently signed between Rue Ibrahima, Head of OSIWA Dakar Office, and Mrs. Elfrieda Stewart Tamba, LRA Commissioner General.
The Vera Mshana OSIWA-led mission in 2016 and the local office team were instrumental in consummating the grant.
The grant will be released to the LRA in three tranches (portions) over a period of 18 months.
Commissioner Tamba has applauded OSIWA for the grant. She indicated that it will be used to conduct an audit in the maritime sector, develop a framework for tax expenditure reporting, and produce the first comprehensive tax expenditure report to include both customs and tax and accelerate the preparation of LRA Practice Notes.
The funding will support tax awareness by the establishment of over 10 tax clubs in schools across the country, Commissioner Tamba disclosed.
This move is intended to begin to sensitize tomorrow’s workforce of the importance of taxation and paying taxes as a civil responsibility.
The long-term aim is to facilitate voluntary compliance and a positive tax attitude for paying a fair share of lawful taxes thereby ensuring sustainable development for mama Liberia.