This directive, according to a Executive Mansion press release, will allow licensed HMS exporters, who had prepared shipments before the moratorium, a grace period of sixty (60) days.
Monrovia—President Joseph Nyuma Boakai, Sr., has signed and issued Executive Order No. 151, introducing comprehensive measures to restrict the export of unprocessed rubber and promote local value addition.
By: Yawah Y. Jaivey
According to a release from the Executive Mansion, the new order aims to revitalize Liberia’s rubber sector and foster inclusive economic growth.
“The Executive Order, effective immediately, seeks to transform Liberia’s rubber industry from an extractive, raw-material export economy into a value-added, job-creating sector that supports GDP growth, employment, and export earnings,” the statement said.
The release further explained that Liberia has historically exported rubber in its raw form, thereby missing opportunities for domestic manufacturing, job creation, and increased revenue.
President Boakai emphasized that this move signifies a pivotal moment for the nation’s industrialization efforts.
“This Executive Order is a turning point. We are laying the foundation for industrialization, value addition, and long-term economic transformation,” he stated.
The statement named key provisions of the order, including the restrictions on the export of unprocessed rubber—such as natural latex, cup lump, bark scrap, and ground scrap—listed under Schedule A. Processed rubber, including Technically Specified Rubber (TSR), is exempt from these restrictions.
Exporters, according to new executive order, are now required to comply with new fiscal obligations, including a 4% presumptive tax, Rubber Development Fund Incorporated (RDFI) fees, and a USD $150 surcharge per metric ton. They must also present official tax and fee receipts, a valid tax clearance, and obtain approval from the Ministry of Agriculture, followed by an Export Permit Declaration (EPD) issued by the Ministry of Commerce and Industry, the Executive Order states.
Furthermore, the order mandates the immediate remittance of an Advance Income Tax—4% for small taxpayers and 2% for medium to large taxpayers—post-export.
At the same time, the new executive order warned that violators who falsify documents or evade the provisions face severe penalties, including a USD $50,000 fine for the first offense—and repeat offenders risk additional sanctions and the revocation of their export privileges.
The Executive Mansion indicated that, as part of the implementation of Executive Order 151, the Ministry of Agriculture will oversee enforcement in collaboration with the Ministry of Finance and Development Planning, the Ministry of Commerce and Industry, the Liberia Revenue Authority, and RDFI.
Meanwhile, the statement announced that joint administrative guidelines will be issued to facilitate the smooth implementation of Executive Order 151.
