President George Weah, Monday September 28, 2020, issued Executive order No. 102 suspending tariff on importation of agriculture products and equipment, directly related to agricultural development.
The executive order is an extension of executive order number 97.
The Minister of Finance and Development Planning in consultation with the Minister of Agriculture and Commissioner General of the Liberia Revenue Authority, shall establish the processes and produce by administrative regulation for the granting of tax exemption to eligible beneficiaries within the agricultural sector according to the order.
The executive order is in connection with the government of Liberia and it International partners to boost the agricultural sector by working with key market players to make agricultural affordable for farmers, farm development and management, aggregation, good agriculture practice, training and enabling legislation that would boost agricultural growth.
According to the order release, the government realized that the high tariffs on the agriculture sector and livelihood of rural farmers contravene government agenda to promote stable macroeconomic environment, enable private sector led economic growth, competitiveness and diversification in the Liberian economy.
The order reads “BY LOWERING TARIFF ASSOCIATED WITH THE IMPORTATION OF AGRICULTURE IMPUTS, THE IMPORTS OF AGRO-DISTRIBUTORS WOULD INCREASE AND PRICES OF AGRICULTURE INPUT OF FARMERS WOULD BE LOWER”.
The executive order 102 and extention of No. 97 of the presidential executive order and United Nations sustainable development goal No. 2 of ending hunger, improved nutrition, achieving food security and promoting sustainable agriculture. Meanwhile, importers of agriculture inputs shall pay only custom users fees and the ECOWAS trade levy where applicable.
The beneficiaries for such opportunity are those involve in the agriculture sector as verified by the ministry of agriculture, the executive order takes immediate effect according to the release.