Liberia News: LRA SEEKS FISCAL AUTONOMY

Monrovia-May-23-TNR:The Liberia Revenue Authority (LRA) is urging the 55th Legislature to grant it fiscal autonomy by allocating 5% of the annual national revenue to enhance its capacity in the government’s revenue reform process.

LRA Commissioner General Dorbor Jallah made this request on Tuesday, May 21, 2024, during his appearance before Plenary of the Liberian Senate when he was invited to comment on the Senate Agenda Plans concerning the goal to increase the National Revenue Envelope to US$1 billion.

“We recommend amending the LRA Act to allocate at least 3% or at most 5%, of the annual revenue generated for the national government to the LRA,” said Jallah.

According to him, this decision will align Liberia with other revenue authorities in the region.

Commissioner Jallah emphasized that historically, the LRA has received less than 2% of the annual budget under past regimes, hindering its ability to build revenue generation capacity and support good governance initiatives.

“The LRA’s budget is unpredictable,” Jallah noted. “This fluctuation makes it challenging to execute our initiatives and sustain programs while striving to extend the revenue envelope to US$1 billion,” he added.

Expressing hope for legislative support, Jallah stated, “We trust that the Liberian Senate will recognize the urgent need to revisit the LRA Act and allocate the recommended 5% of total generated revenue annually to ensure consistency.”

Commissioner Jallah concluded that this financial stability would enable the LRA to procure essential tools, invest in technological infrastructure, and adopt innovative revenue generation solutions, thereby providing a solid foundation for the nation’s economic progress.

Wilson