Liberian President Joseph Boakai has reportedly submitted a draft bill to amend the Revenue Code for the introduction of a new VAT regime that would replace the country's current goods and services tax (GST) regime. GST is a consumption tax currently levied at a general rate of 10% with no right to deduct input tax. The VAT regime, which allows for the deduction of input tax, is intended to enhance tax compliance and boost revenue generation. Notably, Liberia is the only ECOWAS member state t…