Well Done LRA! MFDP, What About Tax Returns?

first_imgThe Liberia Revenue Authority (LRA) in recent days appreciated taxpayers for their contribution and compliance with the country’s tax policy. There were 33 businesses and individuals appreciated and certificated, some of which included LoneStar Cell MTN, Orange Liberia, Monrovia Club Breweries, Passion Hotel in Bong County, Jungle Water Group of Companies in Nimba, among others.Among the institutions, LoneStar Cell MTN was pointed out as the highest taxpayer in the Republic of Liberia, a laudable activity that anyone or institution can be recognized for. The award was a first for the LRA in appreciation of taxpayers whose financial contributions to the country’s economy have made minimal impacts, but maximized the accounts of corrupt, inhumane and unpatriotic government officials.Apart from being the first of its kind in Liberia, the ceremony, accompanied by certifications of taxpayers in various categories, also alludes to motivational theories that encourage organizations and individuals to outperform each other in their compliance with policy. It is interesting to note that the LRA did not only target big businesses that bring in more money, but considered the small and medium businesses as well, encouraging these businesses which are also making strides in complying with government’s policy despite the challenges they face in the country.The expected motivation resulting from this insightful managerial style of the Elfrieda Tamba Administration at the LRA was expressed in views of representatives of the recipients during their remarks. Babatunde Osho, the CEO of LoneStar Cell MTN, promised that his company will not only be the highest taxpayer next time, but will also be the most compliant company. George Mensah Asante, the managing director of Ecobank Liberia, encouraged other competitors to also be honest in paying their just taxes, and not to evade or cheat in any form.  Even John B. S. Davies, president of the Liberian Bank for Development and Investment (LBDI) promised to unseat Ecobank as the most compliant taxpayer next time around.Now that the Liberia Revenue Authority has started pinching taxpayers through motivational ceremony to be tax compliant, the Ministry of Finance and Development Planning (MFDP) should begin devising its own means to complement this by implementing a tax return policy, if there is any. If not, MFDP must try to draft and submit it for legislation in order to give back taxpayers a little portion of what they are giving out in taxes that corrupt public officials enjoy.It may be recalled that a few years ago Montserrado County Superintendent Florence Brandy told LRA officials in Bentol that Liberians and foreign residents in the country were paying taxes, but were getting nothing out of the taxes because there is no tax return policy for taxpayers. She repeated the same statement early this year at a consultative meeting LRA held with local authorities of Montserrado.The keynote speaker of the occasion, Vice President Joseph Boakai, encouraged businesses, individual Liberians and institutions to cultivate the idea and mindset of paying taxes to promote development and civic responsibility. While the importance of paying tax to development cannot be overstated, it is also expedient to note that civic responsibility comes with a responsible government that will demonstrate humility to the people from whom it collects taxes, and one of the ways to do this is via tax returns.When tax returns accompany tangible development projects, including roads, electricity, water, agriculture and protective policies, citizens will feel inclusive in the nation’s economy and will also build a spirit of patriotism. The Daily Observer therefore encourages the government to institute a tax return policy to put smiles on the faces of taxpayers.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

With No Deal On Budget Legislative Session Goes Long

first_imgThe Alaska Legislature missed its adjournment deadline on Sunday night, after failing to reach agreement on the state’s budget. APRN’s Alexandra Gutierrez reports.It was certain by 8pm that the Legislature would not be gaveling out. A conference committee still had not met on the state’s operating budget, and the usual buzz and urgency of the last day of session was missing entirely.Taking a break outside the Capitol, House Speaker Mike Chenault explained the hold up was a vote to draw from the constitutional budget reserve to fill a multi-billion-dollar deficit. Without support from the Democratic minority, the Legislature is short at least three votes to tap the rainy day fund.“We get through it by negotiating with our minority on what they need to get out of here for a three-quarter vote,” said Chenault. “But yet, in turn, we’re not going to add millions of dollars back into the budget that we don’t agree with.”Making a deal of that scale is already hard enough, but compromise was further delayed by personal circumstances. That Sunday morning, the daughter of Democratic Minority Leader Chris Tuck and conservative talk radio personality Bernadette Wilson was born. Tuck flew back to Anchorage to meet the seven-pound Penelope Grace. Chenault, a Nikiski Republican, said that obviously could not be helped.“He’s got a new baby girl,” said Chenault. “It might have been not the right time, but he did what I would have done in his place. And I would have gone back and seen my wife and my child.”There are a few big sticking points in the negotiations. Democrats would like to see education funding restored, and they would like for the Legislature to expand Medicaid. They also want reverse some cuts to the ferry system, public broadcasting, and pre-kindergarten. Chenault says that if an agreement cannot be reached, a government shutdown is possible. “That’s not something we want to see with our state employees. I don’t believe that’s what the minority wants to see either,” said Chenault. “That’s, I guess, the nuclear option, if you want to call it that.”On the Senate side, Majority Leader John Coghill also spoke of dire consequences if a deal failed. The North Pole Republican said the Legislature could try to fund government using the permanent fund earnings reserve, which requires a simple majority instead of a three-quarter vote.“There’s a huge political reluctance to take that money, because it has huge impacts on the dividends,” said Coghill. “But I can tell you, that may be the very next thing we’ll have to do.”But House Democrats have objected to the compromise being described in such stark terms.“The permanent fund earnings is a deadly game,” said Rep. David Guttenberg, a Fairbanks Democrat. “If they’re going to play that game, I’m not going to participate in it.”Democrats believe their conditions for supporting a budget reserve draw should not come as a surprise.“We talked about Medicaid expansion and reform. We talked about education that doesn’t cut kids and opportunities. And we talked about seniors,” said Rep. Scott Kawasaki, a Fairbanks Democrat. “I mean we’ve talked about the same thing from the beginning.”Negotiations will continue Monday. While the legislative session is scheduled for 90 days by statute, the Alaska Constitution allows lawmakers to meet for 121 days without calling for a special session. Last year, the Legislature also gaveled out late, taking 95 days to complete their work.last_img read more

National MI Employs New SVP of Field Sales

first_imgUniversity of Massachusetts graduate Norm Fitzgerald has been named the new SVP of field sales at National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc.Fitzgerald served as SVP of correspondent lending with Nationstar Mortgage immediately prior to his appointment with National MI.”I am excited to be joining National MI as the company continues its rapid growth and I look forward to working with the company’s talented sales force as we offer industry-leading solutions for private mortgage insurance,” Fitzgerald said.Fitzgerald previously worked in a variety of executive positions with CitiMortgage for 10 years, after which he moved on to PHH Mortgage as SVP of correspondent lending.From there, Fitzgerald went to a similar position at Nationstar, where he built the company’s correspondent lending program from the ground up. Within a year, Nationstar’s newly-launched correspondent platform was one of the nation’s top 10 correspondent lenders.”Norm’s experience in the mortgage industry and his leadership skills make him a perfect fit to head National MI’s field sales,” said Pete Pannes, EVP and head of sales at National MI. “He has a proven ability to successfully lead and motivate a nationwide sales team, and will bring a superior and collaborative approach to our customers.” in Headlines, News Share Correspondent Lending Mortgage Insurance Movers & Shakers National MI 2014-08-07 Seth Welborncenter_img National MI Employs New SVP of Field Sales August 7, 2014 475 Views last_img read more