The Ministry of Finance and Development Planning (MFDP), in partnership with the Liberia Revenue Authority (LRA), has officially launched the Tax Expenditure Management Act of 2025, marking a major step in Liberia’s ongoing efforts to strengthen fiscal governance and enhance transparency in public financial management.
Speaking at the official launch held at Monrovia City Hall, on Tuesday, July 7, 2026, the Deputy Minister for Fiscal Affairs and Acting Minister of Finance and Development Planning, Hon. Anthony G. Myers, described the occasion as a significant step toward improving transparency and accountability in the management of tax incentives and exemptions.
Minister Myers emphasized that the legislation represents a critical reform aimed at strengthening domestic resource mobilization and advancing Liberia’s public financial management framework.
He noted that the Act establishes a comprehensive system for identifying, measuring, reporting, and monitoring tax expenditures, including deductions and other incentives granted to businesses and individuals.
According to Minister Myers, the new law is designed to ensure that tax incentives deliver measurable economic benefits while minimizing unnecessary revenue losses.
“This 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,” he stated.
He further indicated that the enactment of the law marks another milestone in a series of policy reforms intended to promote efficiency, accountability, and transparency in fiscal governance.
Acting Minister Myers commended His Excellency President Joseph Nyuma Boakai and also the National Legislature for their leadership in enacting the law, which provides, for the first time, a comprehensive legal framework governing the application, approval, registration, administration, monitoring, evaluation, and reporting of tax expenditures across all sectors of the economy.
Minister Myers called on stakeholders within the country’s financial and economic sectors to ensure the full and consistent implementation of the Act.
He stressed that effective execution will strengthen investor confidence, improve fiscal transparency, enhance domestic revenue mobilization, and ensure that tax incentives are applied strategically and in alignment with the Government’s ARREST Agenda for Inclusive Development (AAID).
The launch event brought together representatives from key government institutions, including the Liberia Revenue Authority, National Investment Commission, National Legislature, and the Ministries of Mines and Energy, Commerce and Industry, Agriculture, Public Works, LEITI, State Without Portfolio, and the Ministry of State for Presidential Affairs, among others.
