Employees and other natural persons with income Subject to Withholding.A natural person is NOT REQUIRED TO FILE An Annual Income Tax Return if:
Below is the procedure to file income tax.
I:Get your Personal Details
Income derived from all sources must be declared;and these include. Income from Wages & Salaries including cash and non - cash items,business,rents and royalties, dividends and interest, partnerships,estates and trusts,gain on sale of property and any other income. All of these are supported by schedules if they were earned during the tax year. Then they will give a Sum Total of the Income in order to calculate your income tax.
Tax liability is determined by subtracting Total Deduction and entering the Net Taxable Income and applying the tax rate using the tax table of Section 200. If it is Net Taxable Loss, enter NIL for for tax liability.
Ministry of Finance
Amara Konneh - Liberia's Finance Minister
Department of Revenue
Broad & Mechlin Sts
Monrovia, Liberia
Hotline: 026-202-543
TEL. 027-202-004
TEL. +231 6243490
Website: http://www.mof.gov.lr
Website: http://www.mofrevenue.gov
http://mofrevenue.gov.lr/doc/Individual%20Income%20Tax%20Return.pdf
http://www.mof.gov.lr/content.php?sub=80&related=27&res=80&third=80
Ministry of Finance
Department of Revenue:
Mr. Gweh Tarwo
Director, Revenue Forecasting Unit, MoF
Tel. +231 886 523 388
Email: gtarwo@mof.gov.lr
Ministry of Finance
Mr. Del Francis Wreh
Senior Financial Analyst, MoF
TeL.+231 886 553 789
Email: dwreh@mof.gov.lr
Ministry of Finance
Macro-fiscal Analysis Unit:
Mohammed Sherif
Chief Economist, MoF
Tel. +231 886 567 684
Tel.+231 776 000 057
Email: msherif@mof.gov.lr
Ministry of Finance
Alice Williams (Mrs)
Budget Examiner, MoF
Tel. +231 886 511 259
Email: awilliams@mof.gov.lr
Ministry of Finance
Department of Budget:
Augustine Blama
Senior Budget Policy Advisor, MoF
Tel. +231 880 657 364
Email: ablama@mof.gov.lr
Ministry of Finance
Sidiki Trawally
Director of Communications, MoF
Tel.+231 886 109 513
Email: strawally@mopea.gov.lr
Ministry of Finance
Darlington Smith - Budget Spokesman
Tel. +231 886 534 489
Tel. +231 776 325924
Email: dsmith@mof.gov.lr
Liberian income tax can be anything from 10 to 20 percent, and you need to be sure you are placed in the correct tax brackets.
The income tax is valid for a year.
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The processing can take 2 days or less if all the necessary documents are submitted on time.
Videos explaining the procedure or to fill the applications. Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external websites. Please remove the "&" inside the tags during implementation. Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, sevenload, viddler, vimeo, youku, youtube width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed. e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M".
Personal income tax is assessed according to a progressive scale specified in tax law of Liberia.PIT/PAYE or Personal Income Tax is defined as taxes paid by ALL gainfully employed individuals on their total gross income (aggregate of all economic benefits of whatever kind that the tax payer derives), using the PIT table in Section 201 of the RCL of 2000.
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http://mofrevenue.gov.lr/doc/Individual%20Income%20Tax%20Return.pdf
http://www.knowyourcountry.com/liberia3.html
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