Sierra Leone Tax Overview

The Sierra Leone tax system at a glance

Sierra Leone operates a residence-based direct tax system administered by the National Revenue Authority (NRA) under the Income Tax Act 2000 (as amended). The headline taxes are personal income tax (PAYE), 30% corporate income tax, a 15% Goods and Services Tax (GST), and NASSIT social-security contributions.

• Tax authority — National Revenue Authority (NRA) (National Revenue Authority Act 2002)
• Currency — New Leone (SLE / NLe); redenominated from old Leone in 2021 by removing three zeros ((approx — confirm)) (Bank of Sierra Leone redenomination)
• Tax year — Calendar year, 1 January to 31 December (Income Tax Act 2000)
• Basis of taxation — Residence-based; residents taxed on worldwide income, non-residents on Sierra Leone-source income (Income Tax Act 2000)
• Top personal income tax rate — 30 percent (Income Tax Act 2000)
• Standard corporate income tax rate — 30 percent (Income Tax Act 2000)
• Consumption tax — Goods and Services Tax (GST) — 15 percent (standard rate) (Goods and Services Tax Act 2009)
• Social security — NASSIT contributions — 15 percent of basic salary (10% employer, 5% employee) (National Social Security and Insurance Trust Act 2001)
• Annual corporate return deadline — Within 120 days after the end of the accounting year (by 30 April for a calendar-year taxpayer) ((approx — confirm)) (Income Tax Act 2000)
• Monthly PAYE/NASSIT remittance — By the 15th day of the following month (Income Tax Act 2000)