LIBERIA TAX AMENDMENTS ACT OF 2016

The fifth session of the Fifty Third Legislature of the Republic of Liberia has enrolled Bill No 61 Entitled "An Act to Amend the Liberia Revenue Code of 2011 and to Repeal the Economic Stimulus Tax Amendment Act of 2016 to Provide For the Economic Empowerment Tax Amendment Act of 2016"

This Amendment to the Revenue Code of Liberia was submitted to and signed by the President of the Republic of Liberia, Her Excellency Ellen Johnson Sirleaf, on December 20th 2016 at the hour of 5:30 PM. The Amendment to the Revenue Code was published into law on December 22, 2016 and became effective on the same date. Short name of the Act is " LIBERIA TAX AMENDMENTS ACT OF 2016"

Issues covered by the amendment of the Revenue code are as follows:


Tax Type Old Rate New Rate
     
Goods and Service Tax (Section 1000,1021 & 1022). 7%10%
     
Excise Tax on Tobacco (Section 1121) 35%80%
     
Excise Tax on Alcoholic Beverages (Section 1120 &1140) 35%
45% / 25%
(Imported / Produced locally)    
     
Excise Tax on Non achoholic Beverages (Cosmetics / others imported)
10% /35%
35% / 20%
Excise Tax on Non Alcoholic Beverages (Produced Locally) 2%2%
     
Excise Tax on Mobile Telephone Usage (section 1165 0
US$0.01/ minute
     
Minimum Tax 0
2% of Turnover

The effective date for the applications of these new rates is December 22, 2016.

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