The Open Society Initiative of 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.
The grant agreement was recently signed between Rue Ibrahima, Head of OSIWA Dakar Office and Mrs. Elfrieda Stewart Tamba. 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 over a period of 18 months, according to an LRA release issued Tuesday. LRA Commissioner General Tamba has applauded OSIWA for the grant. She indicated that the grant will be used to conduct an audit of 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. According to the LRA Chief Executive Officer, the funding will support tax awareness by the establishment of over 10 tax clubs in schools across the country. This move is intended to begin to sensitize tomorrow workforce on the importance of taxation and paying taxes as a civic 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 Liberia, the release said.