The Liberia Revenue Authority (LRA) Commissioner General Elfrieda Stewart-Tamba has blamed the depreciation of the Liberian dollar against the US dollar on several factors. “Due to the depreciation of the Liberian dollar against the US, there has been a great decline in the purchasing power of Liberians and foreign nationals residing within our borders,” said the LRA boss. She added that false declaration and under-declaration by unscrupulous business entities and individuals have to some extent affected the revenue generation of the country as well. Madam Tamba made specific mention to five ‘top’ hotels that are among business entities which have ‘under-declared’ their intakes in business revenue. She, however, failed to name any of the hotels on grounds that they will be disclosed at a later date.

Source: GNN Liberia February 24, 2017 22:52 UTC