MONROVIA – The Ministry of Finance and Development Planning (MFDP) has officially launched the Tax Expenditure Management Act of 2025, marking a pivotal moment in Liberia’s ongoing legislative push to tighten fiscal governance and eliminate waste in public financial management.
Speaking today at the official launch at the Monrovia City Hall, Hon. Anthony G. Myers—Deputy Minister for Fiscal Affairs and Acting Minister of Finance and Development Planning—hailed the law as a critical milestone for accountability. The new legislation introduces a rigorous framework to oversee how tax exemptions and business incentives are managed across the country.
Curbing Revenue Loss, Maximizing Economic Return
The Act establishes Liberia’s first comprehensive system designed specifically to identify, measure, report, and monitor tax expenditures, including deductions and specialized incentives granted to businesses and individuals.
Minister Myers emphasized that the reform is not meant to stifle business, but rather to ensure that tax breaks deliver tangible economic benefits while protecting the national treasury from unnecessary revenue leaks.
“This Act reflects the Government’s commitment to modernizing Liberia’s tax system and ensuring that all incentives granted align with national development priorities while safeguarding public resources,” Minister Myers stated.
A Unified Legal Framework
The enactment of the law represents a major policy shift. For the first time, Liberia will have a centralized, legally binding framework governing the entire lifecycle of tax expenditures—from the initial application and approval process to registration, administration, monitoring, and cross-sector evaluation.
Minister Myers extended compliments to His Excellency President Joseph Nyuma Boakai and the National Legislature for their leadership in pushing the historic bill into law.
Aligning with the ARREST Agenda
The Acting Finance Minister called on all financial and economic stakeholders to ensure the strict and consistent enforcement of the new guidelines. According to Myers, effective execution will be vital to strengthen investor confidence, improve fiscal transparency and domestic revenue mobilization and strategically align tax incentives with the government’s flagship ARREST Agenda for Inclusive Development (AAID).
The high-profile launch event saw broad representation from across the Liberian government, including officials from the Liberia Revenue Authority, the National Investment Commission, the National Legislature, and the Ministries of Mines and Energy, Commerce and Industry, Agriculture, Public Works, and Presidential Affairs.
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