Section 10, The Finance Act, 2016

Subsection (3) of section 97 of the Income Tax Act, 2000 isamended by the repeal and replacement of paragraphs (b), (c), and (d) respectively and the addition of a new paragraph (e)– “(b) in the case of a non-governmental organisation (NGO) or an organisation whose income is exempt under section 9 – annual accounts, stating income from trading activities, income from any other source, and expenditure;” (c) in the case of a person carrying on business in Sierra Leone with annual turnover of not more than Le 350, 000 000 but not less than Le 10, 000, 000, copies of the annual account; (d) in the case of – (i) a person to whom paragraph (a) or paragraph (c) applies; and (ii) who carries on business through two or more branches, the annual accounts of the business, disaggregated accounts for each branch setting out the information prescribed by the Commissioner-General; and (e) in the case of a person who has opted under subsection (2) of section 4 to be taxed under the Small and Micro Taxpayer Regime, a simple return completed by an agent approved under a domestic preparer scheme for small and micro taxpayers specified by the Commissioner-General”.