MOCI Introduces Import Notification Form
-To Improve Business Climate
The Minister of Commerce and Industry (MOCI) Wilson Tarpeh has disclosed that the Government of Liberia has substituted the Import Permit Declaration(IPD) with the Import Notification Form(INF) aimed at improving the business climate of the country.
It can be recalled on April 10, 2019, President George Weah issued Executive Order #96 exempting importers from obtaining Import Permit Declaration before importing goods on the Liberian market.Speaking to reporters Monday at the Commerce Ministry in Monrovia, Tarpeh stated that the latest move by the Liberian Government is intended to simplify the business process and also lowered the costs associated with doing business in Liberia.
The MOCI Minister emphasized that in order to ensure the implementation of Executive Order #96 that was issued by President Weah back in April; the Ministry has introduced a simplified, transparent, and a more effective system to notify the government of any incoming shipment without the need for approval for importing such goods.
He added that the process will also enable the government to effectively carryout vigorous monitoring and regulatory system on the current stock of goods in the country.
According to Tarpeh, the INF increases the efficiency of the importing process, citing “The form can be filled up online in matter of minutes, printed out and brought directly to BIVAC”.
He stressed that the INF does not required approval from the MOCI, “There is no need to go to the Ministry for signature. As long as your information matches the invoice of the shipment it cannot be rejected by either BIVAC or the MOCI”.
Meanwhile, Minister Tarpeh asserted that the Government of Liberia has realized that some of the businesses in Liberia are only using the United. States Dollars for transaction which according to him is creating a serious commercial challenge to the citizenry.
“In order to deal with this situation, we are issuing an administrative regulation mandating all business organizations within the republic of Liberia to carry-on all commercial transactions I’m both Liberian Dollars and United States Dollars as legal tender immediately August 1,2019” Tarpeh noted.
Tarpeh said, any institution found in violation of this mandate will be fined reigning from US$50,000 to US$100,000 or its equivalent in Liberian Dollars for first offense and a ratification and suspension of the individual’s or the entity’s business license.
“We are taking this step as a government because this is the normal practice around the world. You can not operate in any country and reject that country’s currency” He said.