The Liberia Revenue Authority has won a landmark case against West Africa Diamond Incorporated, WADI.
This means that WADI now have the responsibility to pay taxes to the government in the tone of two million five hundred, one hundred and sixty-one thousand United States Dollars.
According to the Tax Court ruling, WADI has a standing tax obligation to fulfill, after evading taxes between January 1, 2011 to December 31, 2015.
The case started back in 2011, when LRA auditors found West Africa Diamond Incorporated liable of tax obligations; WADI than appealed to the Board of tax appeals and they were successful.
LRA later appealed to the tax court and in its’ final ruling on May 11, 2021, the court ruled in favor of LRA reversing the initial ruling of the Board of Tax Appeals.
The LRA has commended the efforts of the Ministry of Justice and the Judiciary for ensuring that tax cases are being fast tracked.
The LRA recommits itself to ensuring that institutions and individuals involved with tax evasion be brought to book regardless and that the collection of lawful revenue remains top priority of the LRA.