revenues earned by the liberian government from mining activities in liberia for fiscal year 2011 2012

Liberia Extractive Industries Transparency Initiative

Liberia latest EITI Report covering the fiscal year 2015 - 2016 highlights total government revenue from the extractive sector at USD 56 million of which mining contributed 49%, oil and gas (exploration) contributed 5%, agriculture 26% and forestry 20%.

Count the Liberian Banknotes and Reform Our Economy (Part ...

Nov 22, 2019 Unearned revenue: The Liberian Revenue Authority, Central Bank of Liberia and others should prepare a schedule of reconciliation detailing earned income and unearned income, if not available. A schedule of reconciliation would help policymakers to understand that a portion of the government’s deposits at the Central Bank represents projected ...

House Passes US$623M Budget Liberian Observer

Sep 21, 2016 This excise tax will still make Liberia the cheapest mobile GSM location in the sub-region and would have raised US$5.7 million for the government. Back to Committee Room The Liberia Amendment Act of 2016 amending the Liberia Revenue Code of 2011 was sent to the Committee room after it was vetoed by the President.

Liberia: The Effects of Taxes On the Economic Growth of a ...

The Liberia Revenue Authority (LRA), in charge of administering revenues in Liberia. The LRA was established on July 1, 2013 replacing a revenue department of the MFDP.

PROMOTING PRIVATE SECTOR DEVELOPMENT AND

The Liberian extractives sector consists of agro-forestry, hydrocarbon and mining and each sector has its unique challenges for both investors and the Government of Liberia. For the forestry sector, investors are extracting known commodities while in the hydrocarbon sector primary activities remain exploration. In

Economy of Liberia - Wikipedia

The economy of Liberia is extremely underdeveloped, largely due to the First Liberian Civil War from 1989–96. Liberia itself is one of the poorest and least developed countries in the world.. Until 1979, Liberia's economy was among the more developed and fastest-growing in Sub-Saharan Africa, but after the 1980 coup d'état, it declined, and the civil war destroyed much of Liberia's economy ...

As Amended 2011 - International Federation

Liberia Revenue Code as Amended 2011 1 Department of Revenue Ministry of Finance July 13, 2012 LRC Codification (JB) (includes 2011 CTA Act). ... Stability of Fiscal Regime for Mining, Petroleum, and Renewable Resources Section 18. ... Government of Liberia in accordance the Mining Law or Petroleum Law (for example, concession ...

History of Liberia - Wikipedia

In 1912 the U.S. arranged a 40-year international loan of $1.7 million, against which Liberia had to agree to four Western powers (United States, Britain, France and Germany) controlling Liberian Government revenues until 1926.

Ministry of Finance and Development Planning

Medici Land Governance Signs MOU with Liberia’s Ministry of Finance and Development Planning for Pilot Project for E-Government Processes “Private Sector Growth Cardinal to Liberia’s Improved Domestic Revenue Generation” -- Deputy Finance Minister Flomo

Mining In Sierra Leone And Liberia - Energy and Natural ...

Mining in Sierra Leone has always been identified with diamonds but the post conflict era has seen development in iron ore and rutile and a gold sector emerge. Liberia. Key mining activity in Liberia has focused on iron ore and diamond production and is recovering since the UN Security Council lifted sanctions against Liberia in 2007.

GDP, current US$ billion 2.3 GDP per capita, current US ...

larger fiscal deficit of 8.2 percent of GDP (compared to 1.9 percent of GDP the pre-vious year) was financed largely by con-cessional loans. The external sector’s performance weak-ened in 2015 compared to the previous year. The current account deficit widened to 34.6 percent of GDP in 2015 from 31.5 percent of GDP the previous year. This

(PDF) Liberia's Governance and Economic Management ...

Government of Liberia revenue performance: quarterly growth rate by fiscal year to fiscal year, 2005Á06 to 2008Á09. Source: Author, based on data from the fiscal reports of the Ministry of ...

Liberia Extractive Industries Transparency Initiative

On March 6, 2017 until March 20, 2017 a team from the Liberia Extractive Industries Transparency Initiative (LEITI) lead by its Deputy Head of Secretariat, Mr. Myer W. Saye Sr. visited six concession affected communities in Nimba and Bong Counties for the dissemination of simplified concession agreements signed with the Liberian government over ...

PROMOTING PRIVATE SECTOR DEVELOPMENT AND

The Liberian extractives sector consists of agro-forestry, hydrocarbon and mining and each sector has its unique challenges for both investors and the Government of Liberia. For the forestry sector, investors are extracting known commodities while in the hydrocarbon sector primary activities remain exploration. In

Extractive Industries for Sustainable Development Project ...

recovery, the mining sector’s contribution to GDP was 10.6 % in 2012.10 The mineral growth has driven the overall economic growth rate, which has averaged 8% per year from 2005 to 2012. 8 USGS, The Mineral Industry of Liberia, 2011. 9The World Bank, Extractive Industries for Development Series.

Liberian Observer Liberia's First Independent Daily

Liberianobserver is the online version of its print edition, the Daily Observer newspaper, a product of the Liberian Observer Corporation. The Daily Observer publishes a wide range of content including politics, business, sports and entertainment on and about Liberia. Follow us on social media for all the latest news and analysis.

Economy of Liberia - Wikipedia

The economy of Liberia is extremely underdeveloped, largely due to the First Liberian Civil War from 1989–96. Liberia itself is one of the poorest and least developed countries in the world.. Until 1979, Liberia's economy was among the more developed and fastest-growing in Sub-Saharan Africa, but after the 1980 coup d'état, it declined, and the civil war destroyed much of Liberia's economy ...

Creation of Liberia Revenue Authority ... - FrontPageAfrica

Liberia was heavily dependent on trade and income taxes; the contributions of domestic sales and excise taxes were very small. A major success of the TA provided in tax policy was an amendment to the tax code, the Consolidated Tax Amendments (CTA) to the Liberian Revenue Code, ratified in 2011.

Liberia Overview - World Bank

The overall fiscal deficit of the central government widened from 4.1% of GDP in FY2017 to 4.8% of GDP in FY2018 and further to an estimated 6.2% in FY2019, reflecting low domestic revenue mobilization and high public spending. Tax revenues accounted for 12.1% of GDP in FY2019, which is low by regional standards.

FINANCE - TLC Africa

September 20, 2010: The Bureau of Internal Revenue at the Ministry of Finance has revealed to stakeholders its strategic modernization and reform agenda which includes comprehensive customer-driven road map methodologies, strategies and approaches geared toward increased revenue generation for government.

Liberia (02/17/12) - U.S. Department of State

The final 2010-2011 fiscal year budget of $369 million (ending June 30, 2011) was 6.3% higher than the initial budget submitted to the legislature, although 0.5% lower than the final budget the previous year. In FY 2010-2011, the Liberian Government committed to allocating 60% of its budget to poverty reduction strategy goals, and its ...

Liberia Overview - World Bank

The overall fiscal deficit of the central government widened from 4.1% of GDP in FY2017 to 4.8% of GDP in FY2018 and further to an estimated 6.2% in FY2019, reflecting low domestic revenue mobilization and high public spending. Tax revenues accounted for 12.1% of GDP in FY2019, which is low by regional standards.

Liberian Perspectives Comments on Events in Liberia and ...

UNMIL’s US$ 524 million budget for 2010/2011 exceeded that of the Liberian Government for the same period. Yet, it even was worse a few years earlier. Yet, it even was worse a few years earlier. When President Sirleaf took office, in 2006, the national budget amounted to only US$ 80 million ( yes indeed, eighty millions US dollars ).

FINANCE - TLC Africa

September 20, 2010: The Bureau of Internal Revenue at the Ministry of Finance has revealed to stakeholders its strategic modernization and reform agenda which includes comprehensive customer-driven road map methodologies, strategies and approaches geared toward increased revenue generation for government.

Liberia (02/17/12) - U.S. Department of State

The final 2010-2011 fiscal year budget of $369 million (ending June 30, 2011) was 6.3% higher than the initial budget submitted to the legislature, although 0.5% lower than the final budget the previous year. In FY 2010-2011, the Liberian Government committed to allocating 60% of its budget to poverty reduction strategy goals, and its ...

Liberia: "Ensuring Macroeconomic Stability and Sustained ...

Liberia: "Ensuring Macroeconomic Stability and Sustained Growth - a Critical Pathway to National Reconciliation and Social Inclusion in Liberia" ... as Minister of Finance was the 2011/2012 budget ...

Government of Liberia Budget Framework Paper

10. In FY 2012/13, as of end-quarter 3, tax revenue is on target and expected to match budget projections for the end of the fiscal year of US$384.65 million. However, non-tax revenues are likely to fall short of the budget forecast. Contingent revenues have underperformed, reflecting

Liberia – African Economic Outlook

Liberia continues to grapple with lower commodity prices, which have led to a third straight year of near-zero growth in 2016. The economy contracted by an estimated 0.5% in 2016. With limited growth expected in the iron ore and rubber sectors in the coming years, the government seeks to diversify the economy by increasing productivity in the ...

Importance of Artisanal and Small Scale Miners' Activities ...

Apr 30, 2015 Figures representing artisanal and small scale miner activities in LEITI’s report are often obtained from the Ministry of Finance and Development Planning. For examples, in LEITI 4 th and 5 th Reports of fiscal years 2010/2011 and 2011/2012, the entire mining sector generated US$44, 223,679.12 and US$56,961,468 respectively. According to ...

Liberia Economy 2020, CIA World Factbook

The government has attempted to revive raw timber extraction and is encouraging oil exploration. In the 1990s and early 2000s, civil war and government mismanagement destroyed much of Liberia's economy, especially infrastructure in and around the capital. Much of the conflict was fueled by control over Liberia’s natural resources.

Liberia: Time for Sound Fiscal Framework - allAfrica

“Recurrent spending was reduced over the previous year, from 27.0% of GDP in FY 2011/12 to a projected 25.6% in FY 2012/13 to allow for more investment in key infrastructure projects, including ...

Liberian Observer Liberia's First Independent Daily

Liberianobserver is the online version of its print edition, the Daily Observer newspaper, a product of the Liberian Observer Corporation. The Daily Observer publishes a wide range of content including politics, business, sports and entertainment on and about Liberia. Follow us on social media for all the latest news and analysis.

The Liberian Economy

This accounts for a whopping 13.2 percent increment (US$2,850,095) even though the government is still struggling to generate an uncollected revenue of US$332 million from the fiscal year 2017-2018. The nation remains aid-dependent and loan-reliant while the Ministry of State for Presidential Affairs has budgeted over US$21.5 million just in a ...

Corporate income taxes, mining royalties and other mining ...

PwC Corporate income taxes, mining royalties and other mining taxes—2012 update 3 as “ring fencing”. The Ghana government, in the 2012 Budget Statement, proposed an increase to the corporate income tax rate from 25% to 35% and an additional tax of 10% on mining companies. Ghana’s proposed tax increases are likely to take

Liberia Faces Daunting Challenges In the ... - FrontPageAfrica

The FIU in the last fiscal year 2017/2018 was allotted seven hundred and eighty-one thousand, five hundred and seventy-four United States Dollars (US $781,574.00) sadly the FIU budget was slash after a budget shortfall, following a recast of the budget six hundred and ninety-eight thousand, five hundred and eight United States Dollars ( US ...