-LRA Boss Tells Senators
By Jackson C. Clay, Jr.
The Commissioner General of the Liberia Revenue Authority (LRA), Thomas Doe Nah has told the plenary of the Liberian Senate that the country is making progress in its revenue generation as per target set.
Speaking when he appeared before the full plenary of the Liberian Senate Tuesday, November 13, 2018 as a member of the Economy Management Team (TEMT), Doe Nah said the country is doing well in its revenue generation this fiscal year as compared to last year.
“We are making some progress. Our budget performance is US$1.9milion, meaning we are 46% above our average, so, even if we look at performance based on the past budget year, we are also above,” Commissioner Doe Nah said.
The LRA boss recounted that last budget year, at this time of the budget year, the country was around 150.2, but now as it stands, the country’s revenue generation is at 161.9 which is 7.8% above last year.
Commenting on the issue of budget shortfall, Commissioner Doe Nah stated that it is a dynamic that according to him goes in line with how the country expends generated revenue.
“With regards to the issue of budget shortfall, it is a dynamic that comes with how we expend our resources, so, it is possible that we can perform as we indicated, but if we cannot control our expenditure, obviously there is going to be a disconnect,” the LRA boss noted.
Commissioner Doe Nah disclosed that currently the country is on the right trajectory in terms of its revenue generation, thus, and what the government wants to institutionalize would also help in making some gains for the country.
He further said there are some interesting ideas that the LRA is currently contemplating on but needs to be discussed with the legislature, adding that when implemented would some make positive gains for the government.
At the same time, the LRA boss has noted that the issue of exemption and wavers to some entities in taxes has some huge impact on the country’s revenue generation, adding that the country losses close to US$200million annually in these areas.
“Meanwhile, the country cannot continue on said path if it wants to meet up with its targets in terms of revenue generation,” he added.