Liberia Tax Tables 2023 - Tax Rates and Thresholds in Liberia
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This page contains the tax table information used for the calculation of tax and payroll deductions in Liberia in 2023. These tax tables are used for the tax and payroll calculators published on iCalculator™ LR, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Liberia or would like to add to or suggest amendments to the information herein then please contact us.
2023 Tax Tables [Quick Links]
Related Calculators
Liberia Personal Income Tax Tables in 2023
The Income tax rates and personal allowances in Liberia are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Liberia Tax Calculator 2023.
Liberia Residents Income Tax Tables in 2023
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 0% | Income from LIB 0.000.00 | to | LIB 70,000.00 |
| 5% | Income from LIB 70,000.01 | to | LIB 200,000.00 |
| 15% | Income from LIB 200,000.01 | to | LIB 800,000.00 |
| 25% | Income from LIB 800,000.01 | | and above |
Liberia Non-residents Income Tax Tables in 2023
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 15% | Flat rate on all taxable income |
In Liberia, social security contributions made by employees to the National Social Security and Welfare Corporation (NASSCORP) are not typically deductible for the purpose of calculating taxable income. This means that the amounts contributed towards social security by employees are generally considered part of the gross income and do not reduce the taxable income base for personal income tax calculations. The tax treatment of these contributions aligns with Liberia’s tax laws, focusing on the gross income as the basis for determining tax liabilities without allowing these specific deductions.
Liberia Social Security and Payroll Deduction Rates in 2023
In Liberia, the social security system includes contributions from both employers and employees, aimed at providing financial support and benefits across various life events. The National Social Security and Welfare Corporation (NASSCORP) administers these contributions, which fund several key social security benefits.
Liberia Social Security in 2023: Rates for Employers and Employees| Category | Employee | Employer | Total |
|---|
| Social Security | 1.75% | 3% | 4.75% |
| Worker Compensation | 0% | 1.75% | 1.75% |
Liberia Social Security and Payroll Deduction in 2023: Earnings Thresholds for Employers and Employees| Category | Employee | Employer |
|---|
| Min. | Max. | Min. | Max. |
|---|
| Social Security | n/a | n/a | n/a | n/a |
| Worker Compensation | n/a | n/a | n/a | n/a |
Liberia VAT Rates in 2023
VAT rates for Liberia are reviewed annually, you can use the VAT Calculator to calculate VAT due in Liberia or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.
Liberia VAT Rates| VAT Rate | VAT Description |
|---|
| 7% | Standard Rate |
| 10% | Higher Rate |
Historic Tax Tables supported for Liberia
The following tax tables are supported by iCalculator™ LR as part of the suite of free tax tools we provide for Liberia.