LAST SATURDAY, A new body, the Liberian Institute of Tax Practitioners (LITP) aimed at disseminating Tax Education in a clear and concise manner in order to encourage compliance and limit to a significant extent the unnecessary fights and disagreements that usually ensue between Tax Administrators, Tax Practitioners and Tax payers, largely due to ignorance of the law, lack of sufficient knowledge, misinterpretation of the tax law, and in some instances outright dishonesty was formed with the induction of its corps of officers.
AT THE INDUCTION ceremony, the President of the LITP, Mr. Theophilus D. Joseph, said the main focus at the newly organized Liberian Institute of Tax Practitioners (LITP) is to bridge the gaps in the roles played by the Tax Administrators, Tax Practitioners and Tax Payers in the tax regime, in order to foster a cordial relationship among the three players to promote a robust tax system which will eventually lead to increased revenue generation for the Government and people of Liberia.
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