Tax tables containing rates of taxation
| Bands | From (LIB $) | To (LIB $) | Tax rate | |
| 1 | 0 | 70,000 | 0% | |
| 2 | 70,001 | 200,000 | 5% | of Excess over 70,000 |
| 3 | 200,001 | 800,000 | 6,500 + 15% | of Excess over 200,000 |
| 4 | 800,001 | Above | 96,500 + 25% | of Excess over 800,000 |
Organization like NGO, Schools, Charitable organizations and Churches that operating and having staff are recommended to use the Electronic platform to file every month with the basic tax calculation set up in the system.
The Payment income table (PIT Table) is used to calculate other corporations’ staff Withholding on Wages and Salary and Service Rendered.
Estimation of value of non cash benefit
19. Non-cash benefits are valued at 100% of the fair market value of the benefit granted to the employee.
20. The cost to the employer of providing the benefit is not determinative of the fair market value but in appropriate circumstances, may be evidence of that value.
21. In circumstances where inclusion of non-cash benefits according to market value poses a hardship on the employee, non-cash benefits inclusion is phased in gradually at a rate of 50% in the first year and increased by 5% per year until the rate reaches 100%.
22. An individual qualifies for purposes of the hardship rule if the market value of the noncash benefit in kind is at least 50% of the employee’s cash salary.
Dividend Income
23. Dividend income is an economic benefit which is treated as taxable income in Liberia.