Sierra Leone News

Posts Tagged ‘gst tax’

That was the lament of a listener of one of the radio program (radio democracy 98.10 FM) about 4 days ago.

I believe this sums up the current mood of most people and the whole issue of high prices by vendors without recall to any authority was brought home to me when I was told that even “potato leaves” sellers have increased their prices due to the said GST!

I mean GST is supposed to be collected only by businesses with Le200 million turnover and even though many of these people don’t qualify, prices have still increased.
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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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