The effects of Taxes on The Economic Growth of a country: The case of Liberia

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The effects of Taxes on The Economic Growth of a country: The case of Liberia

By:

Dr Samora P.Z. Wolokolie, MBA, CFE, CA, CPA, CFIP, CTP, PhD

Abstract:

This paper attempts to evaluate the impact of individual types of taxes on economic growth by utilizing regression analysis. In general, the regression analysis represents a statistic method examining relations of dependencies among dependent and independent variables with the aim to determine the impact of independent variable changes on dependent variable. The paper is based on entrepreneurs complains on the taxes imposed by the Liberia Revenue Authority (LRA), qualifying some of them as arbitrary. With the advent COVID 19, it is important and imperative to come out with some solutions that may mitigate entrepreneurs fears vis-à-vis the LRA policies on tax collection.

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