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Liberia Revenue Authority Wins Tax Court Ruling against Eagle Electrical Corporation

by The Liberian Investigator
July 1, 2024
in Business News
Reading Time: 2 mins read
0
LRA, OECD/UNDP To Launch Tax Crime Investigation Initiative Thursday

Monrovia – The Liberia Revenue Authority (LRA) has successfully defended a recent Tax Court ruling that denied Eagle Electrical Corporation’s petition for a refund of approximately US$20,000.

In the March Term of Court, Eagle Electrical Corporation filed a protest against what they claimed was an ‘unfair increment’ in the Free On Board (FOB) value of their imported goods. The shipment included 512 bath cabinets priced at US$3 each and 2,240 toilet accessories priced at US$2 each, imported from Brazil.

The LRA’s Customs Assessment Unit (CAU) assessed the consignment and determined the lowest researched unit costs to be US$49 for cabinets and US$14.45 for toilet accessories. This assessment suggested that the company had significantly underpriced its imported goods.

During the court hearings, the LRA’s legal team opposed the company’s petition, arguing that all actions taken by the LRA were in strict accordance with the Liberia Revenue Code. They highlighted that the value of the imports was determined in compliance with Section 1239(e) of the Revenue Code.

Resident Tax Court Judge U-Jay Bright, after considering arguments from both sides, concluded that there were no valid reasons to overturn the LRA’s findings and decision. The ruling determined that Eagle Electrical Corporation is not entitled to a refund.

The LRA views this ruling as a testament to its commitment to fairly, transparently, and professionally applying the laws to collect the country’s revenue. The authority also urges the business community to adhere to transparency and accountability practices and avoid activities that undermine the collection of legitimate revenue for Liberia’s development.

Tags: Eagle CorporationLiberia Revenue AuthorityLRA
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