The Plenary of the Liberian Senate has mandated the Commissioner General of the Liberia Revenue Authority (LRA) to submit a comprehensive report to the Senate on Container Tracking Note (CTN) and its contributions to the Government of Liberia in terms of taxes and royalties if any.
The CTN system at the Free Port of Monrovia to effect on February 1, 2019.
The decision of Plenary was triggered by a concern raised by Montserrado County Senator, Abraham Darius Dillon and Bomi County Senator Edwin M. Snowe regarding information that CTN as a company operating under the laws of Liberia is not contributing to the revenue base of the country.
According to the Senate Press Release, Plenary took the decision on Thursday, October 28, 2021 when members of the Economic Management Team (EMT) appeared before the Senate to provide reasons for the appreciation of the Liberia dollars as opposed to the hike in the prices of commodities on the Liberian market.
The Senate is of the view that companies operating in Liberia must pay taxes and royalties, which will be used for national development.
The Commissioner General of the Liberia Revenue Authority (LRA) is expected to reappear before the senate along with other members of the Economic Management Team (EMT) on Tuesday, November 2, 2021.