Liberia has a population of more than 5 million people, with industries including rubber, timber, mining, and shipping crucial to the economy. The corporate tax rate is 25% or 2% of annual turnover, but some industries like mining and petroleum pay 25%.

Some labor and payroll considerations in Liberia include:

  • Employment contracts can be written or oral, but fixed-term contracts beyond 6 months should be in writing
  • Minimum wage is LRD 15.00 per hour, but minimum wage for civil servants is LRD 5,600 per month
  • Income tax and social security contributions are withheld from employee pay
  • Employers must contribute to social security
  • Foreign workers, except nationals from ECOWAS countries, need a visa to enter the country
  • Work permits for foreign nationals will only be granted if a local cannot be hired to fill the position

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