Monrovia - President Ellen Johnson has admitted that an error in the new tax law is responsible for an increase in taxes, thus becoming a burden especially on small and medium enterprises. Already, businesses in Liberia, especially the SMEs are feeling the pinch of the error in the law resulting to rising taxes. The new law, according to President Sirleaf, is to conform to the Economic Community of West Africans States (ECOWAS) regulations on customs. "First of all, when they were making the new tax law, we signed something that all the country in ECOWAS will have the same law. She said the new system is still being resisted by Liberian importers, claiming that taxes are way too high.

Source: Front Page Africa March 01, 2017 02:19 UTC