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Taxation

Special tax incentives are available to companies looking to invest in sectors, such as tourism, manufacturing, energy, hospitals and medical clinics, housing, transportation, banking, agriculture and more. Furthermore, to ensure an investor friendly environment, the Government of Liberia currently has a new Consolidated Tax Law of 2010, which can be found in the Amendments to the Revenue Code of Liberia Act of 2000.

Highlights from the new tax law are as follows:

• Presumptive tax repealed
• Marginal tax rate of 65% was reduced to 35%
• Introduction of Goods and Services Tax (GST) set at 7%
• Introduction of Presumptive Tax on Gross Income

Please note that when doing businesses in Liberia, the Government expects you to voluntarily register yourself; comply with tax laws; file correct, complete and candid returns and statements within the prescribed time; pay due taxes; maintain accounts, documents and records of your transactions; be truthful and honest in your dealings with tax authorities; and provide complete and accurate information and records as required by law.

For additional information, please contact the Ministry of Finance.

Liberia National Investment Commission, 12th Street, Sinkor, Monrovia, Liberia

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