Published: July 8, 2026
MONROVIA – The Ministry of Finance and Development Planning (MFDP) has officially launched the Tax Expenditure Management Act of 2025, marking a significant milestone in Liberia’s efforts to strengthen fiscal governance, improve transparency and ensure greater accountability in the management of tax incentives and exemptions.
Speaking at the official launch held at Monrovia City Hall, Deputy Minister for Fiscal Affairs and Acting Minister of Finance and Development Planning Anthony G. Myers described the legislation as a critical reform that will modernize Liberia’s tax system while strengthening domestic resource mobilization.
According to Myers, the Act establishes a comprehensive legal framework for identifying, measuring, reporting and monitoring tax expenditures, including tax exemptions, deductions and other incentives granted to businesses and individuals.
He said the law is intended to ensure that tax incentives generate measurable economic benefits while minimizing unnecessary revenue losses to the government.
“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,” Myers said.
The Acting Finance Minister noted that the enactment of the law represents another major step in the government’s ongoing public financial management reforms aimed at promoting efficiency, accountability and transparency.
He commended President Joseph Nyuma Boakai and the National Legislature for their leadership in passing the legislation, which, for the first time, provides a comprehensive legal framework governing the application, approval, registration, administration, monitoring, evaluation and reporting of tax expenditures across all sectors of the economy.
Myers urged stakeholders throughout Liberia’s financial and economic sectors to ensure the full and consistent implementation of the new law.
He said effective implementation will strengthen investor confidence, improve fiscal transparency, enhance domestic revenue mobilization and ensure that tax incentives are strategically aligned with the government’s ARREST Agenda for Inclusive Development (AAID).
The launch ceremony brought together representatives from several key government institutions, including the Liberia Revenue Authority (LRA), the National Investment Commission (NIC), the National Legislature and the Ministries of Mines and Energy, Commerce and Industry, Agriculture, Public Works, State Without Portfolio and the Ministry of State for Presidential Affairs, among others.
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