Working in Liberia?
Working in Liberia
The primary form of currency in Liberia is the Liberian Dollar. The country experiences a large amount of foreign investment, with 16 billion USD of investment registered since 2006. The country is in the process of obtaining full-member status of the World Trade Organization, and as of 2010 was granted observer status.
The vast majority of Liberians rely on subsistence farming to survive and the country’s climate provides good conditions for agriculture. Liberia’s exports consist largely of raw goods such as rubber and iron ore. Any domestic manufacturing that does exist is primarily foreign-owned.
Work Permits in Liberia
Expatriates looking to work in Liberia need a work permit; this process is easier for permanent employees than contractors, as the work permits are tied to employer and a new one is required if you change jobs. The work permit is applied by your employer, and it can be applied for, and obtained from the Liberian Ministry of Labor.
Taxation in Liberia
Individual tax rates for resident individuals in Liberia are determined in accordance with the following, progressive framework:
- Up to 70,000 LRD — 0%
- 70,001–200,000 LRD — 5%
- 200,001–800,000 LRD — 15%
- Above 800,001 LRD — 25%
Please note that any non-monetary benefits and gifts from the employer to the employee are taxed as personal income at 100% market value if the aggregate value of the gifts and benefits exceeds 100,000 LRD.