Suspending Tariff On Agriculture Products
Monrovia, Liberia – President Joseph N. Boakai has signed Executive Order #139, which suspends tariffs on agricultural items. At the Wednesday, November 27, 2024, signing ceremony held at the Executive Mansion in Monrovia, President Boakai stated that his government is still dedicated to developing Liberia’s agricultural and forestry industries by acting swiftly to improve macroeconomic stability and encourage growth driven by the private sector.
He stateed that the government has decided that high agricultural input tariffs are a major impediment to the sector’s expansion and the rural farmers’ means of subsistence.
According to the Liberian leader, the levies are in opposition to the government’s strategic objectives as stated in the ARREST Agenda and impede its efforts to encourage economic diversification and competitiveness in the country’s economy.
According to President Boakai, the temporary suspension of agricultural input tariffs is expected to improve agricultural productivity, increase access to high-quality inputs at more reasonable prices, make activities commercially viable, and sustain local farmers’ income levels, all of which will contribute to economic stability.
It is noted that, “The President may issue an executive order in the public interest, either to address emergencies or to rectify specific situations that cannot wait for drawn-out legislative processes, in the exercise of the executive powers vested in the President by the Constitution of the Republic of Liberia.”
“This Executive Order suspends import tariffs on the types of agricultural products and equipment that are directly related to agriculture development, as attached to and forming a cogent part of this Executive Order,” the Liberian leader said.
He explained that in order to expedite the tax exemption procedure for qualified recipients in the agricultural sector, the Minister of Finance and Development Planning, in collaboration with the Minister of Agriculture and the Commissioner General of the Liberia Revenue Authority, is required to create administrative regulations.
Agriculture input importers would only be obliged to pay Customs Users Fees (CUF) and, if necessary, the ECOWAS Trade Levy (ETL), according to President Boakai.
The President further stated that in order to be eligible for these exemptions under this Executive Order, recipients must show that they are directly involved in the agriculture industry, as confirmed by the Ministry of Agriculture.
He clarified that the Executive Order supports farmers and promotes agricultural growth in the public interest and goes into force immediately. Therefore, it is essential that all parties involved abide by the specified guidelines.
