Liberian President Implements Executive Order to Restrict Raw Rubber Exports and Boost Local Manufacturing

Liberian President Joseph Boakai has enacted Executive Order No. 151 to curb the export of unprocessed rubber and encourage local industrial growth. The policy, effective immediately, aims to shift Liberia's rubber industry from a raw material exporter to a value-added sector that generates employment and boosts the nation's economy. The order restricts the export of unrefined rubber products, such as natural latex and rubber scraps, allowing only processed rubber like Technically Specified Rubber (TSR) to be exported. Exporters are now required to pay additional taxes and fees, including a 4% presumptive tax, contributions to the Rubber Development Fund, and a USD $150 surcharge per metric ton. To export rubber, companies must submit official receipts, obtain tax clearances, and secure approval from the Ministries of Agriculture and Commerce, followed by an Export Permit Declaration. Post-export, exporters must pay an advance income tax of 2% or 4%, depending on their size. Strict penalties are outlined for violations, including hefty fines and potential loss of export rights for falsifying documents or evading regulations. Enforcement will be led by the Ministry of Agriculture...