Executive Mansion Monrovia: โ In an effort aimed at revitalizing Liberiaโs rubber sector and fostering inclusive economic growth, President Joseph Nyuma Boakai, Sr., has signed Executive Order No. 151, instituting sweeping measures to restrict the export of unprocessed rubber and promote domestic value addition.
The Executive Order, effective immediately, seeks to transition Liberiaโs rubber industry from an extractive, raw-material export economy into a value-added, job-creating sector that supports GDP growth, employment, and export earnings.
โFor too long, Liberia has exported its rubber in raw form, forfeiting opportunities for domestic manufacturing, job creation, and increased revenue,โ President Boakai stated. โThis Executive Order is a turning point. We are laying the groundwork for industrialization, value addition, and long-term economic transformation.โ He noted.
Key Provisions of Executive Order No. 151:
โข Export Restriction: The export of unprocessed rubberโincluding natural latex, cup lump, bark scrap, ground scrap, and other forms listed under Schedule Aโis now restricted. Only processed rubber such as Technically Specified Rubber (TSR) is exempted.
โข Tax and Fee Requirements: Exporters must comply with new fiscal obligations, including a 4% presumptive tax, Rubber Development Fund Incorporated (RDFI) fees, and a surcharge of USD $150 per metric ton.
โข Export Permit Protocol: Exporters must present official tax and fee receipts, a valid tax clearance, and secure approval from the Ministry of Agriculture, followed by an Export Permit Declaration (EPD) issued by the Ministry of Commerce and Industry.
โข Post-Export Taxation: Exporters are required to remit an Advance Income Tax of 4% (small taxpayers) or 2% (medium/large taxpayers) immediately after export.
โข Strict Penalties for Noncompliance: Entities that falsify documents or evade the provisions of the Executive Order will face a USD $50,000 fine for the first offense, with repeat violators subject to additional penalties and revocation of export privileges.
The Ministry of Agriculture will lead the enforcement of this Order, in coordination with the Ministry of Finance and Development Planning, the Ministry of Commerce and Industry, the Liberia Revenue Authority, and the Rubber Development Fund Incorporated. Joint administrative guidelines will be issued to ensure smooth implementation.
This decision aligns with the Presidentโs broader vision to strengthen domestic industries, enhance Liberiaโs export competitiveness, and create sustainable livelihood opportunities for Liberians.
