Page 30 - Nexia SAB&T Africa Overview 2025

Liberia (GMT)

General:
▪ Capital City: Monrovia
▪ Official Language: English
▪ Currency: Liberian Dollar (LRD) and US Dollar (USD)
▪ Main Exports: Rubber, diamonds, gold, iron
▪ Surface Area: 111.4 sq. km (thousands)
▪ Population: 5,7 million (2025,est)
Key Economic Indicators:
▪ GDP: $4,8 billion (2023) / GDP Growth Rate: 5.3% (2024)
▪ CPI Inflation Rate (annual): 8.2% (2025)
▪ Sovereign Credit Rating: Currently no rating
▪ Indicator of Economic Freedom Score: 48.5/100 (2025): Repressed
Exchange Controls:
▪ Exist, but liberal
Basis of Taxation: (Tax Year End: 31 December)
▪ Residents: Worldwide income
▪ Non-residents: Liberian-Source income
Tax Rates:
▪ Individuals: Progressive rates to 25%
▪ Companies: 25%
▪ Inheritance and Donations Taxes: N/A
▪ General Sales Tax: 10% (a VAT system is due to be implemented by January 2026,
with a proposed rate of 18%)
▪ Withholding Tax: Varying rates apply to residents and non-residents
▪ Capital Gains Tax (CGT): Generally taxed as ordinary income
▪ Double Taxation Agreements: Germany and Sweden
Useful links:
▪ Central Bank of Liberia http://www.cbl.org.lr/
▪ Liberia Revenue Authority http://lra.gov.lr/
▪ Liberia National Investment Comission http://www.investliberia.gov.lr/
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