Australia helps LiberiaestablishaNatural Resource Taxation Unit

Media Release

18 March 2013

The Australian Government today announced that it will provide $700,000 to support the Liberian Ministry of Finance establish a Natural Resource Tax Unit (NRTU)as part of Australia’s Mining for Development (M4D) initiative.

Over 15 months, Australia will provide expert technical assistance to support the establishment of the specialist tax unit and share its world leading expertise in natural resource management.

The NRTU will deployspecialist auditors to assist in the review and audit of natural resource companies operating in Liberia. It will also develop a taxpayer assistance program related to natural resources.

“These measures will substantially improve the Liberian Government’s capacity to administer natural resource tax and increase tax revenues from the sector and help reduce poverty” saidJamie Isbister, head of the Australian Agency for International Development (AusAID) in Africa.

“Australia greatly values its partnership with Liberia and welcomes the opportunity to share Australian expertise and experience to further build on the strong foundations already laid by the Liberian government in becoming the first African country to be Extractive Industries Transparency Initiative (EITI) compliant.”

Africa's natural resource exports are worth more than nine times the money received in foreign aid.

“Even if this technical assistance program resulted in only a 5 per cent increase in projected revenue from the mining sector, it alone would contribute several million dollars in additional revenue for the Liberian Government per annum.

“Considering thatlong-term growth in Liberia is expected to be driven by the natural resource sector, the establishment of a specialized tax unit will ensure that Liberia maximizes the benefits of its mineral wealth to drive future prosperity” added Mr Isbister.

Australia has invested $105 million globally in Mining for Development over the last three years. Some of the key results include support for the Africa Minerals Development Centre; and supportto the Extractive Industries Transparency Initiative (EITI) to enable citizens to hold their governments to account for mining revenue.

More information on Australia’s Mining for Development initiativeis available at

Media Contact: Zabeta Moutafis, Head of Development Cooperation West Africa, AusAID, tel: +233 244 342 489 or .