Monrovia, Oct. 29 -- President Joseph Nyuma Boakai Sr. has submitted an Act that introduces a new chapter for the establishment of a legal framework for tax incentive and expenditure Management.

The Bill, "An Act to Amend Part I, Chapter 1 of the Liberia Revenue Code by Introducing a New Sub-Chapter D to Establish a Legal Framework for Tax Incentive and Expenditure Management," was read during the House's fifth day sitting of the 3rd quarter of the 55th Legislature.

In his communication to the House, President Boakai said the bill aims to respond to long-standing deficiencies in the classification, approval, administration, monitoring, and review of tax expenditures - including deductions, exemptions, and other preferential treatments ...