-As House Considers 25-Year National Plan
Monrovia: President Joseph Nyumah Boakai has presented a bill to the House of Representatives designed to overhaul the framework governing tax incentives in Liberia. The proposed legislation, submitted on Tuesday, October 28, during the 5th Day Sitting of the 3rd Quarter, marks a direct effort by the Executive Branch to address systemic revenue leaks and strengthen fiscal governance.
The bill is formally titled “An Act To Amend Part 1, Chapter 1 of the Liberia Revenue Code by Introducing a New Sub-Chapter D to establish A Legal Framework for Tax Incentive and Expenditure Management”. Its primary objective is to create a robust legal groundwork for the management of all tax incentives, plugging identified gaps in the current Revenue Code.
According to the President’s submission, the shortcomings in the existing code have led to significant revenue losses for the national treasury. This has underscored an urgent need for a more transparent and accountable system to govern how tax expenditures are granted and managed.
The proposed law seeks to establish a comprehensive framework that would apply to all tax incentives, whether they are currently in effect or granted in the future. This system would cover incentives established through domestic legislation, as well as those arising from ratified international agreements and treaties, ensuring uniform management.
Following an initial reading on the floor, the Plenary of the House took swift action. The body mandated its powerful Committees on Ways, Means and Finance, along with the Judiciary, to scrutinize the proposed amendment and report back with their findings and recommendations within a two-week period.
In a parallel development signaling a focus on long-term strategy, the Plenary also addressed a separate proposal for a twenty-five-year National Development Plan. This initiative, covering the period from 2026 to 2051, was put forward by Montserrado County Electoral District #12 Representative, Hon. Jerry Yogboh.
Representative Yogboh’s communication argued compellingly for a national development roadmap that can endure beyond the tenure of any single administration. He highlighted that Liberia’s development agenda has historically been hampered by short-term planning, which shifts with every change in political leadership.
This pattern of policy discontinuity, he noted, has resulted in fragmented planning and a diminished impact on national development. A long-term plan, he contended, is essential to break this cycle and provide a stable, strategic direction for the country.
The proposed 25-year plan is envisioned to yield several key benefits for Liberia. Firstly, it would ensure strategic continuity, guaranteeing that core national priorities are sustained across successive governments, irrespective of political affiliation.
Furthermore, the plan promises to foster economic and social stability by aligning all development initiatives with a single, shared national vision.** This coherence is expected to boost confidence among both domestic and international investors, signaling Liberia’s commitment to long-term growth.
Additional advantages outlined by Rep. Yogboh include the promotion of equitable decentralization to ensure all counties benefit from national progress.** The plan would also enshrine principles of environmental sustainability and enhance national unity by creating a common framework for accountability and progress.
To spearhead this ambitious undertaking, Rep. Yogboh proposed that the Ministry of Finance and Development Planning (MFDP) be tasked with leading the drafting process. This would involve organizing broad-based consultations with a wide array of national stakeholders.
The development process would be inclusive, drawing on the expertise of government ministries, the private sector, academic institutions, and civil society organizations. This collaborative approach is designed to create a plan that truly reflects the collective aspirations of the Liberian people.
The Plenary has referred this proposal to a joint committee comprising the Committees on Good Governance, Tourism, Ways, Means, and Judiciary.** These committees are expected to review the concept and report back to the full House within two weeks, paving the way for potential legislative action on a transformative framework for Liberia’s future.
