The Liberia Revenue Authority (LRA) and the Liberia Institute of Statistics and Geo-Information Services (LIGIS) have signed a Memorandum of Understanding (MoU) for the exchange of statistical data.
The collaboration seeks to ensure the exchange of statistical information focusing tax and non-tax revenue, customs duties, as well as macroeconomic and demographic data for the purpose of monitoring and analysis of economic development.
Under the MOU, the two institutions will share relevant revenue data with the aim to strengthen tax collection and policy administration.
Speaking during the signing ceremony at LRA Headquarters in Paynesville, LRA Commissioner General Thomas Doe Nah lauded the collaboration and termed it as a historic step in exchange of information and data for nation building.
“The MoU is very essential and mutually beneficial, as it would promote the compilation of accurate national revenue data which will be equally beneficial to the two institutions”, CG Nah indicated.
For his part, the Director General of LISGIS Francis F. Wreh thanked the LRA for the collaboration and promised that the MoU will be fully implemented.
“We are very happy to have this collaboration with the LRA which we think will bring about ensuring the collection and sharing of revenue data”, He said.
Additionally the LISGIS boss also stated that the joint information gathered will hugely impact the country’s Gross Domestic Product, GDP.
Both LRA and LISGIS have committed themselves to reviewing and monitoring the quality of data provided.