The Sierra Leone Legal Information Institute has published a copy of the Finance Act 2024, which was signed into law on 10 January 2024. The main tax measures include:
- An increase in the withholding tax rate from 10% to 15% on:
- dividends paid to both residents and non-residents;
- management and professional fees paid to both residents and non-residents; and
- lottery winnings paid to residents;
- A reduction in minimum alternate tax on turnover from 3% to 2%;
- The addition of a provision that a…