MONROVIA, LIBERIA – The Liberia Revenue Authority (LRA) has won a landmark tax evasion case against West Africa Diamond Incorporated (WADI).
The move means WADI must now pay taxes to government in the tone of over US2.5Million. According to the Tax Court ruling, WADI has a standing tax obligation to fulfill, after evading taxes from January 2011, to December 2015.
The case started in 2011, when LRA Auditors found the WADI liable of tax obligations but WADI was successful in their appeal to the Board of Tax Appeal.
LRA later appealed to the tax court and in its final ruling on May 11, 2021, the court ruled in favor of LRA reversing the initial decision of the Board of Tax Appeals.
Meanwhile, the LRA has commended the efforts of the Ministry of Justice and the Judiciary for ensuring that tax cases are being fast tracked.