LRA Surpasses US$500 Million In Domestic Revenue Collection -As CG Jallah Applauds Committed Taxpayers and Stakeholders

It seems the Liberia Revenue Authority (LRA), under the stewardship of one of Liberia’s integrity icons Dorbor Jallah is going beyond slogans and theories of yesteryears, with boots firmly on the ground, ensuring the that Liberia’s just revenues from its vast resource pools are heartily fairly collected and reported. In the last few months of his incumbency, the LRA is on the verge of making history evident by the collection of over US$500m in domestic revenues – US$54.3 million more than the year-to-date revenue target. The Analyst reports.

As at September 30, 2024, the Liberia Revenue Authority (LRA), has successfully collected US$513.8 million or 74% of the total domestic revenue envelope of US$694.4 million for the fiscal period 2024. This, according to the institution’s press release, represents 12% increase in domestic revenue compared to the same period last year.

“The collected amount is US$54.3 million more than the year-to-date revenue target,” the release said, quoting its leadership as extending “profound appreciation to all taxpayers across the country for their unwavering commitment to fulfilling their tax obligations, which is playing a pivotal role in advancing the country’s revenue collection efforts”.

The 2024 national budget target is set at US$738.86 million, with US$696.4 million (pre-recast) expected from domestic tax collection and US$42.4 million projected from external support.

So far, the LRA says, no contribution has been received from external sources, meaning that all revenues collected by the LRA to date have been generated domestically by compliant taxpayers.

“This highlights the crucial reliance on domestic revenue mobilization to achieve the budgetary goals, and the LRA Commissioner General, James Dorbor Jallah, proudly acknowledges the contributions of Liberia’s taxpayers,” said the release.

The press release added: “With $513.8 million already collected against the pre-recast annual domestic revenue target of $696.4 million, the LRA remains on course to meet its 2024 revenue goal. This significant milestone reflects the steady progress in domestic revenue collection under the capable leadership of Commissioner General James Dorbor Jallah, whose strategic vision has positioned the LRA as a key player in driving national growth through improved revenue mobilization.”

Since March 2024, when CG Jallah took over, the LRA has consistently surpassed its monthly revenue collections compared to the same period in 2023, and is committed to reaching the one- billion mark in the coming years.

The LRA has therefore acknowledged not only the commitment of taxpayers but also the invaluable contributions of its dedicated management team, hardworking employees, and external stakeholders.

“These efforts are further strengthened by strong partnerships with various government Ministries, Agencies, and Commissions (MACs) involved in revenue collection,” the revenue agency further said, indicating that the collective effort is aimed at bolstering the government’s capacity to increase fiscal spending on public services, infrastructure, and other national priorities, thereby advancing Liberia’s development agenda.

“We are encouraged by the progress we’ve made so far,” Commissioner General Jallah remarked but was quick to added: “We are not complacent. We remain focused on achieving even greater results in the final months of this year. I commend every taxpayer, our staff, and all our revenue generating counterpart entities, partners and stakeholders for their tireless contributions. Together, we are building a stronger foundation for Liberia’s future.”

“In light of the recent barrage of negative propaganda, misinformation, and disinformation targeting the LRA and its leadership,” CG Jallah stressed.

He urged LRA staff, counterpart entities, stakeholders, and the general public to remain focused on shared commitment to increasing domestic revenue, as it is “essential that we do not allow these distractions to undermine our unity, our trust in one another, or our commitment to the values that define us”.

Jallah further warned that external forces seek to sow doubt and disrupt the important work being done together for Liberia. He added: “I strongly encourage you to verify any questionable information through reliable internal sources and remain steadfast in your roles as key contributors to our ongoing success.

“Let us continue to move forward with resilience, knowing that our collective strength will overcome these challenges.”

The LRA reiterates its commitment to providing a conducive environment for compliance, simplifying tax processes, and ensuring transparency in its operations.

As part of its ongoing efforts, the Authority says it continues to invest in digitalization initiatives to streamline tax payments, reduce bottlenecks, and close revenue leakages.

Looking ahead, the LRA is set to intensify its outreach and taxpayer education programs to ensure that more businesses and individuals understand their tax obligations and the impact of their contributions on national development.

The LRA’s commendation of taxpayers serves as a prelude to the National Taxpayer Appreciation events scheduled for November, where the country’s highest and most compliant taxpayers will be honored for their invaluable contributions to Liberia’s progress.