Sierra Leone News

Posts Tagged ‘tax system in sierra leone’

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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