The population of sierra leone has grown from 2,180,355 in 1963 to 2,735,159 in 1974, 4,976,871 and 7,092,1 in 2004 and 2015 respectively. Appointment of receiver for failure to hold licence 6. The finance act, 2016 sierra leone legal information. In the ensuing years, a number of amendments were made to the act as contained, for example, in various finance acts as well as other legislation. Finance act 2015 sierra leone legal information institute. Musa tarawally minister of lands, country planning and the environment august 2015. Sierra leones finance act 2019 was published in the official gazette on 31 october 2018.
Sierra leone project appraisal report july 2011 appraisal team team leader. Supplement to the sierra leone gazette extraordinary vol. Finance act, 2018 zimbabwe legal information institute. Ethiopia ghana kenya lesotho liberia malawi namibia nigeria sierra leone south africa seychelles swaziland.
In sierra leone, the minister of finance delivers a budget outlining changes in spending, as well as tax and duty. The customs act is amended by the insertion immediately after section 238. Sierra leone finance act 2019 tax measures orbitax news. Sierra leone extractive industries transparency initiative. The integrated public financial management reform project for sierra leone received a moderately satisfactory outcome with moderate risk to development outcome. Printed by uppc, entebbe, by order of the government. Sierra leone is a least developed country ldc with a relatively young population. In addition to the high poverty, sierra leone is one of the most unequal countries in the world. Enacted by the president and members of parliament in this present parliament assembled. The minister of finance on behalf of the government of sierra leone on monday 22nd july 2019, signed read more. Post conflict action microfinance spanda foundation. Finance act 2018 2018 chapter 3 an act to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance. In sierra leone the number of midwives per 1,000 live births is 1 and the lifetime risk of.
Imf rates sierra leone economic performance under the new direction highly. President bio and vice president jalloh together with officials from ministries, departments, and agencies, donated 3 months of their salaries to eliminate school fees for more than 2 million students in primary and secondary education. Sierra leone, the income tax act 2000 was promulgated. Enactedp by the president and members of parliament in this present parliament assembled. The 2016 report shows that sierra leone received just over usd 26 million in revenue from its extractive industry operations. Official pdf, 4 pages world bank documents world bank group. Sierra leone recorded a government budget deficit equal to 7. Statutory instrument supplement to the sierra leone. The mission received the full cooperation of the relevant ministries and agencies, in particular the ministry of trade. To promote economic development, including capacity building in the field of public. Evaluation of budget support to sierra leone 2002 2015 final report volume one. Sierra leone public financial management and business. Being an act to provide for the imposition and alteration of taxation for the year 2010 and for other related matters.
The ministry of finance is a key arm of the government of sierra leone mandated to formulate and implement sound economic policies and public financial management, ensure efficient allocation of public resources to promote stable economic growth and development in the context of a stable macroeconomic environment. The world bank works closely with development partners to support sierra leone in fighting poverty, promoting economic development and improving living standards. Individuals resident in sierra leone are subject to personal tax at increasing scales and rates with a top rate of tax of 30%. Being an act to make provision for the continuance in existence of the national public procurement authority, to further regulate and harmonise public procurement processes in the public service, to decentralize public procurement to procuring entities. Section 61a of the income tax act, 2000 is amended by amendment of section. Being an act to provide for the imposition and alteration of taxes, duties and excise and for other related matters. Overview document july 2015 cordaid in sierra leone an overview economic development improving access to finance tracy washington, program manager sme ventures at the ifc. It is also common for a finance act to be promulgated as a result of a change in government due to a general. The ministry advises the president of sierra leone on economic issues. To make further provision for the revenues and public funds of zimbabwe and to provide for matters connected therewith or incidental thereto. But as the epidemic intensified, it was further postponed to december 2015. An agenda for change 20082012, and the education sector plan 20072015. The availability of budget documents contains a series of four tables that allow the researcher to examine and map the public availability and dissemination of its. Income taxation in sierra leone has come a long way since the enactment of the first income tax act in 1943.
Bank of sierra leone act banking act anti money laundering and countering of financing terrorism act amlcft regulatory and supervisory reforms formation of regional college of supervisors recently concluded stress test of commercial banks increase in the capital requirements of commercial banks bank of sierra leone. The goals of the agper in sierra leone are as follows. In 2018, sierra leone made a minimal advancement in efforts to eliminate the worst forms of child labor. The mental health policy expired in 2015, and the mental health strategic plan requires revision in order to align it to the building of resilient mental health systems countrywide. As an authority with a responsibility to provide quality services to our. The changes to tax and duty are passed as law and each year form the respective finance act. Sierra leone financial sector development plan ii foreword in the past few years, the bank of sierra leone bsl through its internal deliberations and public pronouncements has highlighted the importance of promoting financial sector development to support overall growth objectives.
Finance act 2017 act supplement to the sierra leone gazette vol. I rise to move that the bill entitled the appropriation act 2017 being an act to authorize expenditure from the consolidated revenue fund for the services of sierra leone for 2017 be read the first time. Sierra leone extractive industry transparency initiative reconciliation report. Act 3 public finance management act 2015 the public. Republic of sierra leone ministry of trade and industry. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts. The ministry implements the sierra leone government economic policies and public financial management. Evaluation of budget support to sierra leone 2002 2015. The original portuguese name, serra lyoa lion mountains, referred to the range of hills that surrounds the harbour. Digital copy of openfilc report as pdf file or cd or dvd. Rapidly implement the practice of community ownership and management. Kalayu gebreselassie, principal governance expert, osge. Finance act, 2015 zimbabwe legal information institute.
The oil and gas sector was not active in the fiscal year 20152016. Act 3 public finance management act 2015 the public finance management act, 2015. Following the enactment of the public financial management act 2016 act no. An act to amend the finance act 2006 to vary the rate charged. Finance act 2015 2015 chapter 11 an act to grant certain du ties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection wi th finance. Sierra leone income tax on that foreignsource income, calculated by applying the average rate of sierra leone income tax to the foreignsource income reduced by any deduction properly allocated to that income. S v musino hh15817 and s v taurayi hh29890 by geoff feltoe aligning the administrative justice act with the constitution. The government of sierra leone accepted and announced both postponements. Finance act, 2010 sierra leone legal information institute. Enacted by the president and members of parliament in this. Sierra leone public financial management reform project english abstract. The finance act, 2015 being an act to provide for the imposition and alteration of taxes for the year 2015 and for other related matters.
Finance act 2006 amendment act 2012, 2012 uganda legal. Sierra leone ministry of finance is a ministerial department of the government of sierra leone, and is in charge of managing the revenue and finances of the sierra leone government. Be it enacted by parliament in the seventieth year of the republic of india as follows. This page provides sierra leone government budget actual values, historical. Revenues were mainly collected through mineral royalties and. Supply, deliver and installation of 300kva generator with canopy. This is compared with 970 in 2010 and 1032 in 2008. Sierra leones mental health legislation, the lunacy act, was written in 1902. A number of more recent documents, particularly the government white paper on the gbamanja report 2010 and the revised national education. Members of parliament yesterday enacted the 2015 finance act, which according to the short title, would provide for the imposition and alteration of taxes during the said year.
Cordaids footprint in sierra leone check all our projects in. Examination of books of person carrying on banking business without a licence 5. Sierra leones massive revenue losses from tax incentives, is the first attempt to analyse the governments tax expenditure. Sierra leone public financial management reform project. An act to give effect to the financial proposals of the central government for the financial year 20192020.
Restrictions were introduced regarding the deductibility of expenses arising from the assignment of use or right to use certain rights, such as s and industrial property rights in trade and banking services, technical, scientific and similar know. Being an act to provide for the imposition and alteration of taxes for the year 2017 and for other related matters. Evolution of urbanization in sierra leone, 1967 to 2015. Sheikh sesay, senior macroeconomist, slfo shiaka momoh, procurement expert, slfo. Sierra leone law sierralii south african law saflii seychelles law seylii. The under 5 mortality rate, per 1,000 births is 198 and the neonatal mortality as a percentage of under 5s mortality is 25. Turning finance into services for 2015 and beyond rural water supply increase subsector funding, through public including donor and user contributions whilst rapidly improving the current absorptive capacities.
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