The Liberia Revenue Authority (LRA) Commissioner General James D. Jallah has highlighted the critical need for expansion of the domestic revenue to propel the nation’s development.Commissioner Jallah made the statement on Monday, August 19, 2024, when he served as guest on the ELBC Super Morning Show.
Commissioner Jallah said the government is providing as much as it can, but the resource envelope is too small to meet all of the country’s needs.He said most of the country’s budget is consumed by recurring expenditures, thus expanding the resource envelope is essential for addressing critical infrastructure needs.
The LRA boss said he encourages growth of middle-class businesses which could significantly boost the economy, but in order to achieve that, it requires a collective and responsible effort from all stakeholders. Commissioner Jallah said there is a plan in progress to digitize domestic revenue payment to lessen the burden on taxpayers from having to go to the LRA head office before depositing payments.
Meanwhile, Commissioner Jallah said tax collection is doing well in the mining, transport, passport and private sectors, especially corporate areas. He disclosed that the LRA has collected 59 percent of the 2024 National Budget in tune of US$412 million, an excess in the targeted amount of US$393 million required during the first six months of the budget year.
Jallah said the LRA is now required to collect US$280 million between now and December 2024, and the entity is in a better position to reach the threshold.
