The Assistant Commissioner for Real Estate Tax Division at the Liberia Revenue Authority, James A. Jaber, has disclosed that the launch of the Local Government Real Property Tax Administration Expansion Pilot Project in Margibi County is scheduled for December 15, 2021, will give rise to fifty percent share between the Local Authorities of Margibi County and the Central Government.
The objective of the project, he said, is to expand the Real Property Tax Administration into Margibi County and collaborate with the people of Margibi to register and pay their real property tax to enhance revenue growth and county development.
Mr. Jaber made the disclosure during consultative meetings with the County Superintendent and Local Officials and also Stakeholders across the county.
About eighty-four (84) Tax Agents from communities of electoral districts in Margibi County were selected and trained to capture and register taxpayers' properties for tax collection.
According to the Tax expert, LRA is partnering with the people of Margibi County and the Ministry of Internal Affairs with support from the Ministry of Finance and Development Planning has designed a pilot project called the Local Government Real Property Tax Administration expansion.
He noted that the Central Government and the people of Margibi County concluded that whatever revenue to be generated will be shared with the people of Margibi County for Development purposes.
"There will be a fifty percent share by both parties when revenue is collected from the county" he added.
"For example, when Fifty Dollars is collected in Margibi County, the Central Government will receive fifty percent while the people of Margibi County will receive fifty percent.
The amount of revenue generated from the county will be used by the people of Margibi County for Development purposes, that is, developing programs and projects that will improve the lives of the ordinary people and their communities and Margibi as a whole" he asserted.
However, a special account will be opened in the county under the pilot, where all real property tax amounts collected will be paid, which will be shared with the county and the Central Government.
Assistant Commissioner Jaber revealed that when the project is launched, the Tax Agents will commence the identification of taxpayers, capture and register new properties/taxpayers into the tax net.
He added that all Real Properties including residential, commercial, industrial, farmland, and vacant land will be captured.
The Tax Agents exercise is expected to commence January 2022 for 3 months.https://thenewdawnliberia.com/lra-and-partners-launch-full-implementation-of-new-excise-stamp/