Monrovia, Liberia beria – The Government of Liberia has officially launched the Tax Expenditure Management Act of 2025, describing the legislation as a landmark reform aimed at strengthening fiscal governance, enhancing transparency, and improving accountability in the administration of tax incentives and exemptions.
The launch, held at Monrovia City Hall, was led by the Ministry of Finance and Development Planning (MFDP) and brought together senior government officials, lawmakers, development partners, and representatives of key public institutions involved in Liberia’s economic and fiscal management.
Speaking at the ceremony, Deputy Minister for Fiscal Affairs and Acting Minister of Finance and Development Planning, Anthony G. Myers, said the enactment of the law marks a significant milestone in the government’s drive to modernize Liberia’s tax system and strengthen public financial management.
According to Minister Myers, the Tax Expenditure Management Act establishes, for the first time, a comprehensive legal framework for the identification, approval, registration, administration, monitoring, evaluation, and reporting of tax expenditures across all sectors of the economy.
He explained that the law creates a transparent system for managing tax incentives, exemptions, deductions, credits, and other tax benefits granted to businesses and individuals, ensuring that such incentives generate measurable economic returns while minimizing unnecessary losses in government revenue.
”The Act reflects the Government’s commitment to modernizing Liberia’s tax system and ensuring that all incentives granted align with national development priorities while safeguarding public resources,” Myers stated.
The Acting Finance Minister noted that the legislation forms part of a broader package of fiscal and economic reforms intended to strengthen domestic resource mobilization, improve transparency, and promote greater accountability in the management of public finances.
He emphasized that the law will enable the government to better assess the cost and effectiveness of tax incentives, ensuring they are strategically targeted to support investment, job creation, economic growth, and sustainable national development.
Myers also commended President Joseph Nyuma Boakai and the National Legislature for supporting the enactment of the legislation, describing it as a major achievement in Liberia’s ongoing public finance reform agenda.
He urged government institutions, the private sector, and other stakeholders to work together to ensure the effective implementation of the Act, stressing that consistent enforcement will strengthen investor confidence, enhance fiscal transparency, improve domestic revenue collection, and ensure that tax incentives are aligned with the Government’s ARREST Agenda for Inclusive Development (AAID).
The launch ceremony brought together representatives from the Liberia Revenue Authority (LRA), the National Investment Commission (NIC), the National Legislature, and several government ministries, including Mines and Energy, Commerce and Industry, Agriculture, Public Works, the Ministry of State without Portfolio, and the Ministry of State for Presidential Affairs.
Officials attending the event described the legislation as an important step toward improving fiscal discipline and ensuring that tax expenditures contribute meaningfully to Liberia’s long-term economic development goals.
Government Launches Tax Expenditure Management Act to Boost Fiscal Transparency
