Income Tax Act, 2000
The principal Act governing the taxation of income in Sierra Leone.
Summary
The Income Tax Act, 2000 is the principal statute governing the taxation of income in Sierra Leone. It imposes tax on the income of individuals, companies and other entities and sets out the rules for computing taxable income and the tax payable.
The Act defines the sources of chargeable income (such as employment, business and investment income), provides for allowable deductions, allowances and reliefs, sets the rates of tax, and deals with the taxation of residents and non-residents. It provides for the assessment and collection of tax, including withholding taxes and pay-as-you-earn, for returns and record-keeping, and for objections, appeals, offences and penalties.
It is administered by the National Revenue Authority and has been amended on several occasions.
Main provisions
- Imposes tax on the income of individuals, companies and other entities.
- Defines chargeable income and allowable deductions, allowances and reliefs.
- Sets rates of tax and rules for residents and non-residents.
- Provides for assessment, collection, withholding tax and PAYE.
- Provides for returns, objections, appeals, offences and penalties.
- Administered by the National Revenue Authority.