Sierra Leone News

Archive for the ‘Sierra Leone Business’ Category

Yesterday all the shops were closed as business owners are protesting against the new GST tax the government has introduced. This was supposed to come effect last year September but was delayed until Jan 01, 2010. Now you’ll be wondering what exactly GST is….

The acronym stands for Goods and Services Tax and it’s levied on all goods and services. (A bit like VAT in England ) only it’s charged at 15%. From the explanation I’ve garnered, it replaces seven existing taxes, import sales, domestic sales tax, entertainment tax, restaurant tax and food tax, messages tax, hotel accommodation tax and professional services tax thereby simplifying and streamlining the present system of indirect taxation and reducing the cost of administration for the Government, the NRA and businesses.
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Although, the investment conference that took place in London is over, but there’s still a lot of interest in Sierra Leone as an investment destination.

I went to a conference on private investment yesterday (continuing today) and it was interesting to see that there are international investors that have plenty of money to invest. The question is are there viable business to invest.

In the past some have taken their money back as they found no businesses or indeed viable business plans worthy of their cash, but I hope not this time.

C’mon , Mama Salone, let’s show them that indeed this is a good place to invest!

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