- Search Results
 
 
LRA, FIRS Of Nigeria Sign MoU
Date Uploaded: Mar 13, 2017

LRA Commissioner General Elfrieda Stewart Tamba

 

LRA, FIRS Of Nigeria Sign MoU

MONROVIA, March 12 (LINA) - The Liberia Revenue Authority (LRA) and the Federal Inland Revenue Service of Nigeria have (FIRS) signed a Memorandum of Co-operation that will strengthen ties between the two tax collecting bodies.

The signing ceremonies took place in Abuja, Nigeria at headquarters of the Federal Inland Revenue Service, with LRA Commissioner General Elfrieda Stewart Tamba and FIRS Executive Chair Dr. Tunde Fowler signing for their respective entities.

Speaking during the signing ceremonies recently, Tamba conveyed appreciation to the FIRS for its commitment to knowledge sharing with the LRA and stressed the importance of Domestic Resource Mobilization as a sustainable way through which the continent can impel its own developmental initiative, as donor assistance dries up.

For his part, FIRS Executive Chair Fowler welcomed the initiative and described it as a platform to strengthen institutional capacity, capability and performance of tax administration of the two taxing bodies.

Under the memorandum, the LRA and FIRS agreed that the areas of co-operation will include, but not necessarily be limited to the exchange of information and best practices on revenue modernization and specific areas of expertise.

It also covers the identification, initiation and development of pilot projects in the areas of revenue administration; and provision of technical assistance, within available resources, which may include assistance with programs, capacity building and training to enhance the skills of either Party.

The LRA and FIRS also agreed to the development of common approaches towards risk profiling, risk assessment and revenue protection measures; and the development of common approaches towards illicit revenue activities.

The two said they will work on the provision of audit assistance; tax laws reform and development of Circulars, Guidelines, Regulations and Explanatory Notes on complex tax issues.

They promised to work on monitoring international dynamics of taxation in order to identify suspicious transactions perpetrators and other persons involved.

LRA Commissioner General Tamba believes that the MOU will serve common interests and contribute to strengthening capacity of the LRA.

Meanwhile, the Commissioner General, as head of the West African Tax Administration Forum (WATAF), was in Abuja to also hold discussion with the President of ECOWAS and to present WATAF recommendations to the ECOWAS Commission and also serve as keynote speaker at the West African Union of Tax Institutes Conference.

LINA PR/PTK

 

latest headlines
Judge Kaba Reserves Ruling In E.J. Roye Building Case
Judge Yussuf D. Kaba of the Civil Law Court has reserved ruling in a motion for Declaratory Judgment filed by some individuals calling themselves ...more
CENTAL Raises Eyebrow About Political Parties Spending
The Center for Transparency and Accountability in Liberia (CENTAL) has expressed concern over the expenditure of political parties on fleets of n ...more
LTA, Partners End Int’l Internet Workshop
The Liberia Telecommunications Authority (LTA) and partners have ended a two-day international workshop on ICANN (the Internet Cooperation for As ...more
Liberia To Host GIABA Plenary, Ministerial Meetings
Liberia will host the Intergovernmental Action Group against Money Laundering in West Africa (GIABA) 27th Technical Commission/Plenary and 17th M ...more
GOL, Sweden Sign US$21.6m Accord On Feeder Roads In 7 Counties
The Governments of Liberia and Sweden have signed a US$21.6 million agreement to support the third phase of the Liberia-Swedish Feeder Roads Proj ...more
Defense Ministry Relaxes Camp Ramrod Eviction
The Ministry of Defense has with immediate effect put on hold its notice of eviction to inhabitants of the 72nd Camp Ramrod Barracks in Paynesvil ...more
 
All rights reserved © 2013 - 2014
Liberia News Agency