These people, most of whom are foreigners, secretly come and pay very good amount of money to the top guys in the [Commerce] Ministry just so that they can be the only ones bringing in those goods that are only banned in their mouths,” our Commerce Ministry source said, anonymously. The Revenue Code Phase One of the Reform Tax code of Liberia, AD2000, as amended by the Consolidated Tax Amendments Act of 2011, to Reform Excise Tax Law (2018) has three components. The Liberia Revenue Code of 2000 established a legal basis as amended 2011, chapter 11. Excise taxes are calculated on the cost, insurance and freight of imported goods except for alcoholic beverages and tobacco product and ex-factory price for local manufactured goods. The amended revenue code is sending shivers amongst many Liberians with many unsure how the new changes will impact the lives of ordinary Liberians.

Source: Front Page Africa April 09, 2019 00:22 UTC