IPNEWS: The Liberia Revenue Authority (LRA) has officially launched its Corporate Strategic Plan (CSP) 2025–2029, marking a monumental shift as Liberia stands on the verge of crossing the historic US$1 billion mark in domestic revenue collection.
The announcement was made in Monrovia by LRA Commissioner General and CEO James Dorbor Jallah under the theme “Freedom Declared, Freedom Financed.”
As of August 18, 2026, the LRA has already collected US$904.7 million in domestic revenue, placing the country just weeks away from hitting the US$1 billion threshold for the first time in its 179-year history.
To put this achievement into perspective, Liberia’s domestic revenue stood at US$464 million in 2014 and reached US$699 million in 2024.
The domestic revenue-to-GDP ratio rose sharply from 13.4% in 2023 to 15.9% in 2025, and it is projected to hit 16.3% by the end of 2026.
This surge allows the Government of Liberia to maximize its domestic resources, progressively reducing its reliance on external financing and foreign assistance.
The newly unveiled five-year roadmap acts as a blueprint to sustain this momentum and push toward an even higher internal target of US$1.176 billion for FY 2026. Rather than introducing new taxes, the LRA intends to scale revenue through modern administrative reforms:
Expanding electronic fiscal devices, automated payment options via mobile financial platforms, and deeper data-driven compliance tools.
Tightening enforcement and visibility on compliance to minimize revenue losses and corruption.
Preparing infrastructure and launching country-wide public awareness campaigns for the upcoming VAT implementation.
Broadening the tax base by simplifying paths for informal businesses to register and contribute, easing the tax burden on already compliant citizens.
The LRA official Portal credits this historic fiscal development to enhanced cooperation from local businesses, taxpayer compliance, and aggressive technology upgrades.
