By Sami Zaptia.
London, 10 March 2021:
Libya’s Tax Authority discussed ways to improve its performance with USAID on Monday (8 March). The virtual discussion included the Economic Attaché at the US embassy in Libya.
The Tax Authority stated that the meeting aimed at developing a mechanism to add an annex of cooperation to develop and improve tax work to the Memorandum of Cooperation between the Ministry of Finance and USAID and the Libya Public Finance Management (LPFM) Agreement.
The meeting also aimed to support the Ministry of Finance in its ability to manage its financial policy so that the tax policy is more effective in financing the state’s public treasury by collecting taxes in accordance with the legislation in force, addressing economic imbalances and distortions and directing the economy.
The LPFM 2019-2024 Agreement
The five-year LPFM programme with USAID [restrict paid=”true”] and Pragma says it aims to partner with the public and private sectors to revitalize provision of critical public services, enhance the capacity and transparency of municipal governance institutions, and establish an enabling environment that promotes private sector growth—advancing Libya’s journey to stability and self-reliance.
It says it provides technical assistance and capacity building at the national and municipal levels to reform public financial management and ensure adequate funding for critical public services.
It reports that it is working with 46 municipalities as they lead the way to implementing decentralized government funding and accountability—and with upwards of 20 pilot municipalities on strategies to ensure urgently needed delivery of education, primary healthcare, and solid waste management services. [/restrict]
Its collaboration with the Ministry of Finance is building the capacity of the Ministry’s recently established Macro-Fiscal Unit to promote stable and efficient macro-fiscal policy formulation and management.