Goods and Services Tax Act, 2009
The Act introducing a broad-based goods and services tax (GST) in Sierra Leone, replacing several indirect taxes.
Summary
The Goods and Services Tax Act, 2009 introduced a broad-based value-added consumption tax — the Goods and Services Tax (GST) — in Sierra Leone. The GST replaced a number of separate indirect taxes with a single, simpler tax on the supply of goods and services and on imports.
The Act provides for the imposition of GST on taxable supplies and imports, the registration of taxable persons above a threshold, the charging and accounting for tax, input-tax credits, exemptions and zero-rating, returns and payment, and refunds. It provides for administration and enforcement by the National Revenue Authority, with offences and penalties.
GST is a major source of government revenue and simplified the indirect-tax system.
Main provisions
- Imposes a goods and services tax on taxable supplies and imports.
- Requires registration of taxable persons above a threshold.
- Provides for charging tax, input-tax credits, exemptions and zero-rating.
- Provides for returns, payment and refunds.
- Provides for administration by the National Revenue Authority, with offences and penalties.
- Replaces several earlier indirect taxes with a single tax.