Sierra Leone's Finance Act 2023 was reportedly signed into law on 24 April 2023. One of the key measures of the Act is the introduction of a new minimum alternate tax (MAT) at a rate of 3% on turnover, which is payable if greater than the calculated corporate income tax (CIT). Provisions are also included for a MAT credit that can be carried forward for up to 10 years and offset against CIT in years that CIT exceeds MAT. It is also provided that certain companies are exempted from MAT:
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