By: Saidu Jalloh, Reporter
November 14, 2025 – Sierra Leone’s Minister of Finance, Ahmed Fantamadi Bangura, has announced that the government will not introduce any new taxes in 2025. The declaration was made during the presentation of the Finance Act 2025 in Parliament on Thursday.
Minister Bangura emphasized the government’s commitment to improving the effectiveness of tax administration and collection, stating that the Finance Act is essential for enhancing revenue mobilization efforts.
He highlighted the recent rebasing of Sierra Leone’s GDP from approximately $4 billion to around $8 billion, underscoring the need to improve the domestic revenue-to-GDP ratio from about 8.9% to 10%.
Key provisions of the Finance Act include the introduction of mandatory payroll tax return filings for all employers, along with penalties for non-filers, late filers, and late payments of excise tax. The Act also aims to redefine taxpayer classifications into Large, Medium, Small, and Micro categories based on turnover, and it establishes penalties for failing to file income tax returns.
Additionally, the revised royalty rates for dimension and other stones were outlined: $25 per metric ton or $500 per 33.2 cubic meters container for non-dimension stones, and $50 per metric ton or $1,000 per container for dimension stones and marble.
After extensive debate, Parliament unanimously enacted the 2025 Finance Act, which included amendments such as deferring the 5% import duty on rice, originally set to take effect in 2025, to January 2026.
This announcement reflects the government’s strategic approach to revenue generation while alleviating the tax burden on citizens in the coming year.
