MONROVIA, May 29 (LINA) -The Ministry of Finance (MOF) and the Central Bank of Liberia (CBL) Thursday opened a Revenue Collection Window at the Ministry of Lands, Mines and Energy on Capitol Hill in Monrovia.
Speaking at the ceremony, acting Lands Mines and Energy Deputy Minister for
Administration, Jenkins O. Atuanya, commended the MOF and CBL for the initiative, noting that it will provide relief to tax payers who do business at the ministry.
“This is clearly an attempt to address problems that we are encountering in the collection and reporting of revenue for mining licenses and the processing time it takes a tax payer to make payment into Government revenue, said Atuanya.
He said it will also address the challenges faced in meeting the Liberia Extractive Industry Transparency Initiative (LEITI) compliance.
Minister Atuanya said in the past, the Ministry had problem reporting figures that do not correspond with revenue figures reported by MOF and LEITI.
He explained that “the primary reason for this is that, while we were reporting on invoices issued, the MOF had actual collections and this is because not all invoices issued could be paid at the time. Miners could keep invoices and pay at a much later date or don't pay at all.”
Speaking earlier, Sekou Sanoe, MOF Deputy Commissioner for Tax Operation, said the Revenue Window is a strategy designed by the Finance Ministry last year to be installed at all line Ministries.
He said the Finance Ministry has opened Revenue Collection Windows at
several Ministries, including Transport and Commerce, and will continue the exercise in the foreseeable future.
In remarks, a representative from USIAD, Victoria Cooper Euchia, said the agency was proud to be part of the Revenue Collection Window process, and promised USIAD’s preparedness to continue its support.