MONROVIA, February 18 (LINA) – Grand Bassa County has emerged as the highest revenue collecting county for the second quarter of the 2017/18 fiscal period, according to the Liberia Revenue Authority (LRA) County Revenue Collection Report.
The LRA in the months of October, November and December, representing the 2ndQuarter, collected a total of US$1.7 million from its rural Tax Business Offices (TBOs) and Customs Business Offices (CBOs) in all 14 counties as well as rural Montserrado.
The amount represents revenue received or collected exclusively in the counties through the LRA business offices.
Grand Bassa County contributed a total of US$489,900 or 28.1% of gross receipts from the counties. Of the amount, US$358,609 or 78% came from the TBO’s, while the remaining US$131,290 came in from CBOs.
Grand Bassa is closely followed by Maryland County, which maintained its position of second highest contributor from the last quarter.
Maryland contributed US$318,480, representing 18.3%, while Nimba which came first during the previous quarter fell to third, contributing US$281,580 or 16%.
Margibi, Grand Cape Mount and Lofa Counties are in the 4th, 5th and 6th positions respectively with 158,267 (9.1%), 151,415 (8.7%) and 109,150 (6.3%) contributions.
Bong, Grand Gedeh and Bomi follow correspondingly with 4.5%, 3.7% and 3.2% as the 7th, 8th and 9th highest contributors.
The County Revenue Collection Report is the segment of the revenue report that features the performance of the LRA rural Tax and Customs Business Offices.
Rural Tax Business Offices are all TBO’s located outside of Montserrado County, with the exception of Bensonville TBO, which, though located in Montserrado County, is considered a rural TBO.
Rural Customs Business Offices are all Customs borders and ports located outside of Montserrado and Margibi Counties.
This means that revenues from Freeport, LPRC and RIA (Margibi) are not included in the County Revenue Collection Report.
The essence of this classification is to facilitate cross-sectional comparison among the counties to show their true economic potential, said a LRA release issued at the weekend.
Meanwhile, gross domestic revenue collected in the Second Quarter of FY 2017/18 was US$89.1million.
Of this amount, total collection from the counties amounted to US$1.7m or 1.9%, while the LRA Headquarters and other urban stations contributed US$87.4m or 98.1%.