GBARNGA, Bong County — Bong County Environmental School Incorporated, in collaboration with the Liberia Revenue Authority (LRA), has concluded a one-day tax education and awareness program in Gbarnga, aimed at educating citizens, business owners, and students about tax obligations and the importance of tax compliance.
The awareness program focused on tax categories for small, medium, and large taxpayers, including the tax obligations of petty traders and other small business operators. PROBE NEWSPAPER REPORTS.
During the program, Marvin D. Yeahgar, acting supervisor/IOC, and Jelvin B. Dennis, communications officer from the Domestic Tax Department at the LRA, explained the importance of paying taxes to national development.
They said tax revenues contribute to the government’s ability to provide public services and support development initiatives across Liberia.
The LRA representatives also outlined provisions of the Liberia Revenue Code governing taxpayer obligations.
According to the officials, large and medium taxpayers are required to file annual tax returns and pay quarterly presumptive taxes at a rate of 2%, as provided under Section 200(b) of the Liberia Revenue Code.
They further explained that small taxpayers have the option to file annual tax returns but are required to pay quarterly presumptive taxes at a rate of 4%, in accordance with Section 200(c) of the code.
In remarks, Jeremiah Solomon, executive director of Bong County Environmental School Incorporated, lauded the LRA for partnering with the institution to provide tax education to citizens, business owners, students, and other community members.
Solomon said the initiative would help improve public understanding of tax responsibilities and encourage compliance among business operators and other taxpayers.
For their part, participants praised the organizers for the awareness program, describing the education as useful in helping them better understand their tax obligations.
They pledged to share the knowledge gained with others in their respective communities to promote greater awareness of tax compliance and its importance to Liberia’s development.