Liberia targets tax waiver reforms to sustain revenue growth

Liberia has surpassed US$1 billion in domestic revenue during the first nine months of 2026, with President Joseph Nyuma Boakai setting a year-end target of approximately US$1.3 billion. To sustain this growth, discussions have emerged regarding the reform of tax waivers and concessions granted to companies operating within the country.

According to the Liberia Revenue Authority’s Annual Tax Expenditure Report for 2023–2024, the nation forwent an estimated US$240.34 million in potential revenue in 2024 through various exemptions. This total includes US$101.51 million in goods and services tax exemptions, US$84.71 million in import-duty exemptions, and US$54.12 million in business-income-tax concessions.

The International Monetary Fund (IMF) has advised Liberia to streamline these exemptions, specifically those related to mining concessions. The IMF estimated that addressing tax expenditures could yield approximately US$10 million in 2026.