Business Reforms in Liberia

Positive= Doing Business reform making it easier to do business. Negative= Doing Business reform making it more difficult to do business.

DB2013:

Positive Paying Taxes:

Liberia made paying taxes easier for companies by reducing the profit tax rate and abolishing the turnover tax.


Positive Enforcing Contracts:

Liberia made enforcing contracts easier by creating a specialized commercial court.


Positive Getting Electricity:

In Liberia obtaining an electricity connection became easier thanks to the adoption of better procurement practices by the Liberia Electricity Corporation.


DB2012:

Positive Starting a Business:

Liberia made starting a business easier by introducing a one-stop shop.


Positive Getting Credit:

Liberia strengthened its legal framework for secured transactions by adopting a new commercial code that broadens the range of assets that can be used as collateral (including future assets) and extends the security interest to the proceeds of the original asset.


Positive Trading Across Borders:

Liberia made trading across borders faster by implementing online submission of customs forms and enhancing risk-based inspections.


DB2010:

Positive Starting a Business:

Liberia eased the start up process by removing the need to obtain and environmental impact assessment when forming a general trading company.


Positive Dealing with Construction Permits:

Liberia eased the process of dealing with construction permits by reducing the permit fee and cost of obtaining power generator, abolishing the requirement to obtain a tax waiver certificate before submitting documents to obtain a building permit, and fixed telephone connections have become more readily available for public use with the re-opening of LIBTELCO.


Positive Trading Across Borders:

Liberia has sped up the trading process with a one stop shop facility bringing together government ministries and agencies, and by streamlining the inspection regime.


DB2009:

Positive Starting a Business:

Simplification of the registration processes, time-limit reforms, and business licenses reforms resulted in a tremendous time and procedure reduction.


Positive Dealing with Construction Permits:

Liberia reduced the time to obtain a building permit by introducing a 30 day statutory time limit and eliminating the Minister of Public Works’ signature on small to medium sized construction projects. Liberia also cut the building permit fees in half.


Positive Getting Credit:

Liberia has created a nascent public credit registry in the Central Bank of Liberia. The registry provides banks with credit information on potential borrowers and helps them improve their risk management tools.


Positive Trading Across Borders:

Liberia cut fees for customs clearance and port and terminal handling.


Reform Summaries


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