Tariff Act 1978 is amended by deleting tbe rate indicat€d under

ACT Supplement to the Sierra Leone Gazette ?bl. CLXY, No. 3 dated llth January, 2024 STcNED this l|th day of January , 2024 DR. JULruS MAADA BiO, President. No. I 2021 Sierra Leone ENecrm by the President and Members ofPaliament in this present Parliament assembled- THE FINANCE ACI' 2024 Being anAct to pmvide forthe imposition and alteration of t x€s, to give effect to tbe linancial pmpmab of thc Governmert and to provirtl for other related matters for the financial year 2024 Shon n e ] Darc of crtni$errcc'rgtt @ No. I The Finance Ad, 2021 Dare of 1, Unless otherwise provided, this Act shall be deemed to cornmtnceEleT t come into operation on the lst day ofJaDury,?Dz4 STAMP DUTY AC:I CAP274 2, ScheduleA ofthe Stamp Duty Act Cap 274 is ameuded in pamgaph (i) by deleting the rate indicated in that paragraph and inxning the following new rate. Amendinent of Schedule Aof Ca9 27 4. Amcndment ofSchedule A of Act No. I6 of 1978. cusToMs TI{.RrFFACT, I C78

Tariff Act 1978 is amended by deleting tbe rate indicat€d under paragraph (i) and inserting the following new rate. HSCODE Description Rate 7523 Cement 20"h 1006 Rice 57o (etrective lst January N24) l0P/o (efiective ls January 202' 72t5 kon Rod l0ozo 731 1 Cooking Cas Conveyance Section Stamp Duty Fees for conveyances and other assignments of proPerty. real and personal, mortgages debentures and transfers thereof, and liquidations, ofthe value of tle prop€rty properties other than financial instruments 0.002 or 02olo ofconsideration for financial instruments Rate (elTective lst Jan. 202.3) 0.0 I or I 9/o of consideration fo 2021No. , The Finance Act,

EXCISE ACr l9&2 The First Schedule ofthe ExciseAct 1982 is amended by- Amerdfienl of First Schedule 1l) Act No- 6 (a) repealing the excise iales under the heading of 1982 2203 and replacing tbem with the following new excise ratesi H.lding IL S Cod. Dcs.npriodcoo& sp..i6.afiro Alcotoli. coollut Fr sohtior (v) l-4czl lrl'rod 22frJ B.cr madt fmm rult 2203m.r0.(m Stout & Pfflar <t0 t-.0.01 Fcl ot l.e 10 pcr 2,.03Cn.20.U& <10 t!0.01 p(f cl or Irl0F ].:orl-alcottolic noP5o/. <10 tlo0l per cl or tclop.t lfue tr0.0l5 Fclct lils F !itr€ 220300.90 000 (Xr, t$n6 olB€er <t0 1,4.0t F cl or Irl0F liEr 1.0.015 Fcld l€15 p€t lilre k0.015 pc' cl or i,el5 p.t liae i-d.o,5 Fclrr I-el5 F Rte II 4 No. 1 The Findnce Act, 20zt Hcdirg t]. S Cod. Ihs(riptiodtus speciicetioo Al.oboUc contctrl par solorion Rte I-ocal lrdport :?o1 win. of frcsh E!4e"j!d!,liq-&'d&qsrEp.s. srrpt must Eot of Hgadins 20.09 220r r0. i 0.000 220410.90.00) Spe*ling wtne <10 I,o4 20 prr IiEe SFrl<ling win€ >loPlq, v.a >l0brt <b 1,.6.30 per liEe Irl2 per >-2(F<.10 1r3.30 prr lirre l,el4 p.r lit e 220421 10.0&) Oth6 Spa ing wirE m!s! <lCFl. <10 I-o4.m p€r litrE Lel0 p€r <t0 t,e{.20 pr. litre I l Irl0pcf liar 220429.1O00C1 >lve.v.a in 2 hrs or l6s >l0bu 40 k6.30 p€'lite Lel2 per litle ;:20=<30 L.8.30 per litre 1,e14 pcr >!F<40 t 1040 pq !ite t i6F litsr >.10 t 150pe'liEe LAWr litE >10 hx Gzl) I-e6.30 ptr litre Lel2 per LE€ >20-<30 t,€E.3O pq liEE t-el4per lit E >y'<Ao Lclo 40 per 1,.16 per t€15 0 pel liEe LA2W liae 220430. I o.Om Oll€r C,rapc mll5t <10 I-€420 p6litre L.el0p€' liEE ?fo430 91.000 >10 but <=!b 16.30 pa' liEe L12lrI >2F<30 l-€8.3O pcr litre 1-e14 pet litE lrlO40 p€. liEE kl6 p€r litse >'i0 bl5.0p(f,liEe 1-r.2.W liqe (b) repealing the excise rates under the heading 22A4 *rd replacing them with the following new excise ratesi t-€10 pet II II I No. I The Finance Act, 2024 5 (c) repealing the excise rates under the heading 22O5 and replacing them wirh the following new excise mtes:- H. S. Codc D.scriptiodGoods Alcoholir p.r solutior 9.1 R!te sp€cific.tiotl Local Import vcrmouth & Olh.. $in. of Fresh Grap.s 2205t0 10 000 winc of f resh Grapes > l0 but Lc6.30 per litre Lcl2 per >=2(F<30 Le8.30 per litre L€ l4 >i0 btrt Le6 l0 per ltre l,d2 P€T liu€ >20=<30 L€8 l0 per litre Lel4 pEr >10=<40 Lel0.40 pcr litre 1,.16 Per >40 L€15.0 pcr lire L42 lfie l 6 The Finance Acl, 2024 11. S. Code Ihscriptiol,'Goorls spctilicrtiol .{koholic cortcrt p.I solutiol (-ii) Local t:ffi ott,r Lrriotd B.trngo (Cid.r. Perqi elc)i lli$ure offtrmenttd hrer4es and mFd$holi( hverrges. \[S :206{0.1 0.000 <10 1e4.20 p€, lirc 220600.20.00(l ofalctrholic contc <llP.4 <10 I*4.20 pr liue 10600.10.0m ofrlcolmlic coitent>1ff/6 >l0bul L6-10 ler litt >:F<10 1e8.30 pr litn >10--<40 11e10.10 pr litrc >10 Lel5.0 pr litre Rasin r+rm <10 1e1.20 pl lire 2:0\tm.i0.m0 fucr wim <10 2:06m.r0.irl0 Mimre of iurtluict $i$ alcoholic cotrtmt [rel:ol.'tim ! i t:th0(1.80.000 Mirnre ofiuitjuict *it almholic corrnt >10 h{ <r0 1e6.30 p litrc Let.30 per lim >itr<40 ! l kl0j0tsrlite >10 Le ) 5.0 pu lita k22 pa litc <10 Lc4J0 pr lirc r20600. I 00.000 0ten <i0 Le4:0 Fr lite (d) repealing tbe excise rates under the heading 22O6 and replacing them with the following new excise rates: - Rair Imporl Lel0 pt litr Lel4pr kl6pr [t?2 pr li[c Lrl0pr lifie Lel0pr litu Lel0 pa lirr tri2 per lirc Let4pr litE Lel6pr lilr Ir15 per liut kl5 per litr No. I I-el0 pr j Iitre I kli pu i litr i Hradirg Lol.l0ntr lrtre I >]tr<10 Cidn Ptny & l''ld I06110.40.m0 <10 ofalcoholit conttflKltrri No. I The Finance Act. 7 2208e exclse Itcrdin: and rcplacing thern with the following new excise rates: Imporl Lcl4 per lire Le I6 pcr lire Le22 p.r litre kl2 pcr iilre Lel4p€rliEr Lsl4Flitt : Lcl6 pcr lis. LG22 ft.rliEt Lel2perli!rc Lcl4 pcrlift : Lel6 pcr Iit € L€22 per lim Lcl2 pcr ljre Lel4perli|Ic L€16 p€r litrc Le22 per liat : Lel{pcrlitae; kl6 pcr lit c i Le22 p.r litre : 220ri10.10.000 Local Alcotolic coatant PaJ solulio! (t/, D.rcriptio Coods rpecilic.tiotl H. S. Code 1208 .\lcohol $ith less tt n rnd LeE.lo per lilre >=2F<10 Lel0.40 per lirrc >30=<44 Lel5.0per >.1{J Brrnd) Le6.!0 ptr lirr. >t 0 but <-20 Olhers12oEt0.9(r.utro ':0 L.lt30 pe' litr Le8.30 per Iir€ >=2G<10220810.00.fin) Lcl0.10 p€r liBc >3(F<l0 Lel5.0 per lire >1t) Le6.l0 per litrr- Rum ahd o$ct Spiril >10 but <-20 220840.00 ffx) Le8.30 per lir.e >=20-<30 Le 10.40 pct >10=<40 Lel5.0 p€. liE >10 Le6.l0 p.r litr. >10 bur Gin & Cordials210850.00.000 113.30 p.r >=20=<10 L€l0.40per >10=<40 Lel5.0 pcr lire >40 Lc8.30per litr€ >=20-<30\tikal?0860.00 000 Le l0 4fi pcr l,IIc >11].<j,0 L.15.0 p.r titn >,10 Le6.l0 per lilre >t0bur L'queu: L.l2 p.t litrc I II 8 No. I The Finance Act, 2024 >lF<10 kl0.10pr litn l >{{ :i0890 10 000 0lher Foms of Spintous kr r.ages >l0but <-20 1e6.30 pr Iiut >2tr<10 >3tr<]0 Lel0.{0pr lirc >1C Lel5.0 pcr Le{.30pr litn Schnapp >10 but <L0 >?tr<10 >lF<4{) >.10 l.el5.0 per Le6.i0 pet liue Alcohol dr mcnthr >10 but >20 1e8.30 per lift 0thers >l0but 1e6.30 pa Iim >2tr<30 Le8.J0 pr >1tr<40 Lel0.,l0 per >{0 Lel5.0 per Iitre >2tr<i0 Le8.-l0pa Lel{ tsf litc Le l6 pir lib. Le 15.0 pn tel2 pr litre Lell pr litr 1e8.30 per lire Lell ner lire [e l6 per iitrc Le22 ptr litre Lel2 per litre Let.i0pu Lci{ Jrr litrc Lrl0.10per litt Itl0 prr lifie Le22 per lite [ei2 pr lirc Le l{ Fr liur lel! 6r lire Lcl4 per lire Lel6 pr lite Le2l p lfue The Finance Act, 2024 9No. I DatriptiomCoods lpecificatiotr H. S. Code Lel5.0 per Ex[" N€ufal Alcohol(when used to pnduce otler alcohols] 22071090 Hendirg ll(ll EttylAhohol rith more (f) repealing the excise rates under the heading 2207 and replacing them with the following new excise rates: - Alroholic conhtrt per solntion Ratt Local lmport thsn 80% (if inpodcd as mn mrterirh erchc to be on 3ales offinisbed Lc12 pr (g) repealing the tariff item No. 22.09, the corresponding description and excise rate and replacing them with the following new uriffitem numbers, descriPtions and excise rates - T.,rill- 22.{t9 ol. ically manufactured alcoholic bcvcmges qsiDg more thta ao'l. loetly P.oduced ra\t m&reaals includiug sorghun- @asavs- rnai7.e. sugar. t arlcv a.d hcrbs, notabty "birter kola" and -2o 59/" t 20/" >=?o <to >=20 D2. Leally manufac.urcd alcoholic lrcvcBgcs snrg rnore iha,t 7O%o bur less than SOo/i, l&'ally produccd Ew rnarer;als ilrcluding sorS&um- €s$va. lnaizc. sugar, barlcy and her!,ssot.blv "bitter kola" .n.l bit:cr -:lO 12"/" usiag rnore than 600l. but lcss thon 70 '7. locally Prod{dc.l ra* uEterials iocluding sorahurncsssav!, maizc. sugar. barley .nd hcrt s. noublY "bi.tcr kola" and <lo --2O usiEg Borc than 5O"/o but lcs ihe 60"% locally produc€d ..$ nratc.iols includinE sorghum. cassava- m.ize, sEs, balleY a'!d hcitts, rorably "bitt.Y kollr" 6fld it. Locally ma.u 2()",o 10 No. I The Finance Act, 2021 Dactiptio Coodr specifi ration (h) repeating the Heading 20-09 and replacing them with the following: - Herdisg H. S. Code txcisr Rrt( )ioF.Alcot0li., crrb0Erle4 rtr(t tledetrcd ter.n$!; fruil j{ice (idsdi!8 E.pe nust) rnd v.get ble Juic!! rEfamented rd t .antriling dded spirit. conteiling dthd sugrr, or oti(r $relhoilg Ertfe. {etdldiIg retunl Eilk t0fiairing ao addd sngrc bcve gs for o licd u. smh $ onl tuaitiood Scnpt; iafrlt oI brbs torBuhi Frhr 5r ilEr! bol nol liaYoured er Ld.0 ts! gEn of sugr l*0.03 per Eao rifs:grr (f repealing the whole of tariff items Nos.24.01, 24.02 and 24-03, the corresponding description h columi 2 and the corresponding rates in colurnn 3 and replacing h with the foltowing tariff item number, description and ratei Tarifl x.m i D6..htiolrc@drtp{.irliltio. Cisdcit .odain'n8 n)beco Lc I .-_5 per F.ler of 20 ii.!6 Oftc' manufaaftd .otacco ad mr"uftcMed &bacco 3ubnrrutca "horlog.no{s' itd '..corstitut d rot o": rotd@ dtrrs ad 6sal.6 Lcso p"r kg 1 !S0 per 18 rtd \I.150 F. Enh ro bb.c@). hookah t ba.co ad o$s EpiEg .d bb{.e.irdari!6 lioo.hlarholir kvoagc (riti addd $BEr ront Lss tlBn l0 grrot pn lite NorAlrt[oli baer.gts ({i0 .ddd slg{co e ofat tersl l0 grer! per life Unminuia.rucd lob6.$ ciFs. ch.'ooti cigz.ilo., coiaIing !ob..(o or ! The Finance Acl' 2024 fi) insertingthe following new tariffitem number, descriPtion 24.04 and rate inrmediatelY after tariffitern 24'03- Ercise Rste No. I Descri ption/Coods specilicrtion Electroric cigarcttes, tooka deYic€ Cartridge for use io elec8oDic includiog e-sbisha and e- l,&.2 Per I Leo 4 p€r unli (k) bY rePeal and rePlac€mentoftariffitems 27 10 as follows- 0) by the repeal and replacement oftariffitems 3923 m follorvs: RNte of E\cL Dq Ixs(r;FionTrtiff Item lir t! 0 8l Per lIEe tre Feparatrcrs: A. KetoserE ad riilst€sr-q Le 1.&l Pe! lllre a *ra tt 1 62 Fr ltEe etrecstt t Afril a'4 Ir2rl Pr lit€ eftcs'"€ I Jury 2l,4 Lr 2 4 per ltEc eseco'rt f da! olocrotEr lr?4 Faa D k 2.Zl t€r hre E Lbr;cauts oils /1.10 Rare ol F:crse I)r-!' Tariff ItemNo lr160perigDd!'rdFff (Pia$c I ha8t .,hqE bode { c6cke.i *dl telcftge erctulilg rmter) i9.li rier:r'teC t9l3 L t2 No. I The Finance Act, 2024 (m) by the addition immediately after ite.m 97.O1 ofthe following new item- TeriftliBln \r D6$itsim kt dEri.sDr,r' loeloof ltE r1d qen€d Gr6 grrttitg Er,trrE l€ss lvimiEs) 9B 0l Amendmcnt of Section 25A of Act No. 7 of FORESIRY lAX ACT T9fl8

Section 25A ofthe Foreslxy Act No. 7, of 1 988 is amendedby repealing and replacing that section with the following- "25A. (l ) An expofier oftimber log, timber and tirnber products shall pay to the National Revenue Authoriry a timber royalty as follows: l-ffi*-r .1_--- an"i itl H_idr \thB (-otnlrid Sp.(i.s- \kuh itu1odc Uss3,tno tiur fiE lEl6t aJ.rt .f is odrd Fi.rotrt log foa I'n€rorE USSI:?oo plur rd F€rc6! ( l09r] for s .n lE&xle Csn riu6 USS3.o{xr phts l*o ad lulf mrrtet Fi.. of!h. toc. L..15.(rOJ pt'rs llE f€r.cDt {59'.i ot i1t rnrde,l prie ofrhe LE rOB Fr.a!!n klr-t{, pha t*o lrd h.tf!.t!a . (:.!:j oftu it rr.r pricc ofrtc loe. lr-foo' All ouc. sf6id, slrtl fJiD.ooo$ {lw wdn!} fiirh \6lE Cermrchl stnch itEhld. Ciniriu Atl 6rirr SF.i.., *hi.lr E inr..o{B (re sdds) L.l5-00(,pla t n $.16r (lol.} for A{fwst.tio.rld Cirs I Gdrflilg tufigfld ldrr) srwi(.$ I 2021 t3 No. I The Finance Act, (4 Thdmafief nalusoftimber exPorted ,.- . ...,. .... (a) the realised gross price (without discount, commission or deduction) for a sale freeonboard (fob) at the point ofexPort fiom Sierra kone; and (b) determined using- (D the actual terms ofsale; or (ii) in the case of a tramaction between associated persons or where the rimber is not sold within 12 months' using the arm's length staldard as prescribed by section 95 ofthe lncome TaxAct' 2000 (Act No. 8 of2000). (3) Ro.valties imposed by subsection (l) are payable to &e National Revenue Authority before erport; (4) For th€ avoidance of doubt. a truck or lorry carrying abov" 20-io.,t conlainer equivalett of other timber Products other logs shall atb?ct the appropriate royalty imposed' (5) ln this sectiorl "timber" means timber log timber and tfunber proiucts with an origin in Sierra l*ooe bul excludes furniture' edge giue boards, ptywood and wooden transmission poles from planted forests. INCOMETAXACfZNO

Section 3 of the Income Tax Act 2000 is amended.by ffi:LHTinsertingthe following new subsection immediately afler subsection of Act No. t (Q of 2000' "(7) For the avoidance ofdoubg a person involved in the provision of the digiral products and services referred to under paragraph (m) ofsubsection(l) ofsection 89 rvhether resident or nor "nultlpuy itt"orn" t^* on all the income derived &om a source in Sien-a I-eolre. No. I The Finance AcL 2024 Amendm€nt of S'ection 6,{ of Act No- a 7. - Section 6A of rh- t^-ob- 1.ax .ri loo0 is mended by ia$ninB the words "and non'' immediately after the -,*.1-resident" ol Scction 74 oI Act No. 8 E. Section 7,A of the Income Tax Act 2000 is amended by repealing and replacing that section wjth the following new : ection Miuimum 7A. (l) Not withstanding section 3, w'here a compa,,ry Alternate (whether resident (or non-resident) makes an allowabL. loss under sectioD 32,{ fora year ofassessment beginning on or after lst day ofJanuary 2023, the company shall pay minimum altemate tax, being the percentage sprecified in Part III of the First Schedule applied to the company's tumover for the year. (2) Where a company pays minimum altemate tax for a year of assessment in accordance with subsection (l), rhe company is entitled to a minimum altemale tax credit equal to the minimum alternate tax paid for that year ofassessment. (3) Minimum alternate rax credits graDted under subsection (2) shall . (a) be available to carD/ forward and may reduce income tax (but nol minimum altemate tax) ' payable in any ofthe ten years ofassessment following the year wilh respect to which tbey are granted; (b) nol be refundable; and (c) be used in the order in which they are granted. (4) Subsection (l) shall nor apply- (a) for fhe first three years ofassessment afler a company is incorporated; (b) for the ffst two years of assessment after a company goes inlo liquidation; or r No- I The f inance Aa, 2021 l5 (c) to mineral or petroleum operations referred to in the Extractive Industries Revenue Act, m18. (5) For the purposes of subsectioD (l); tumover takes its meaning from section 2 but eYcludes any amount- (a) subject to final withholding tax; or (b) in the case of a non-resident company, that has a foreign source urless it is effectively connected with a permanent establishment in Sierra Leone. 9- Section 89 ofthe Income Tax Act 2000 is amended under subsection (l) by- (a) deleting $e two exisling paragrapbs (k) and inseftiog the following two paragraphs "(k) a premium for a general insurance paid in respect ofthe insurance ofany risk in Sierra IJone" . " (l) if derived from fees paid for providing managerial, technical or consulhncy services in Sierra Leone". O) inserting the following new paragraph irnmediately after paragraph ( I ) as follou's- "(m) derir,:d fiom the provision of digital products and services to consumers in Sierra Leone by residents and nonresidents, in any Year of assessmenl including bul not limited to the following- Amcndmcnl of Sccrion 89 of Acl No- I l6 No. I The Finance Act, 2021 G) digital products, including subs$iption based, downloadable and stream-able digital contents- satellite TVs, movies, music, apps, games, and e-books; software programs: Qf Services such as management and rechnical advisory arcbitectural or legal services (iif eiectronic data management, including transmission or collection of data about users in Sien"a Leone; (iv) sale of goods or servic€s directly, includiug online tickets and other services intermediating supplien and customers. through a digital platform; (v) purchased via non-resident market places or pay,rnent aggregators: (vi) digital gambling and betting activities; (vii) search engines and automated help desk services, e-leaming platforms, audio, vision or digital media transport hailing platforms, among others

Section 97 of the lncome Tax Act 2000 is amended byinserting the following oew subsection (13) immediately after subseaion ( l2) "13. The automated system installed or used by taxpayers in compliance with the adninistration ofincome bxes and other reveDues shall be compalible to interface $.iti the automated system administered by or on behalfofthe National Reyenue Authority at tbe cost of each taipayers " . ? Amcndmcnt of Scction 97 ofAct No. 8 No, I The Finance Act, 2021 11

The First Schedule ofth€ IncomJ TaxAct 2000 is anended AmerdmcDtasfottows- 8*'f;L, Acl No- 8 of (a) in Ptrt III by inserting the fouowing new 2000. paragraph immediately after the line relating to the 25oZ rat€ oftax for companies: - "Rate of minimum alternate tax applicable to companies reporting losses the previous year including companies under section 21, resident in Sierra Leone for anY Year of assessment. Rds ofminimlEl alteoatel,D( -2yo (nvo percent)" (b) by repealing and replacing Pan IV with the following new Part ry PART TV (Sections U?,I1&119,120 and 121) Rates of tax to be withheld from pa!,ments made to residents }?e of paynextt Payments to contractors {section I l7) Divid€nds (section I 18) Interests (section I 19) ManagemenVprofessiona[ fees Rents Royalties (section 120) Annuities (section 121(2) {a) Nahral resource paymenfi (122) Reai property (seltion I 23) winnings of l,e I ,000 and above fiom any lottery Rate sYo 159/o l5Yo 15Vo 10/o l5o/o 150/0 15o/o l5"to 18 No. I The Finonce Act. 2074 Amendment of S€cond Sch€dule OfAct No. 8

The Second Schedule oftle lrrome TaxAct 2000 is amendedln- (a) Part I by inserting the following new paragraph imredialely aierthe line relatiag to 25olo rate oftax on chargeable income of nonresident- "The rate of minimum altemate tax applicable to ronresident companies is 2olo of tumover" O) Part II by repealing and replacing that part with the following new Part Il- PARTtr (Sections 116,11?,118,119,120,121,122 znil 123) Itates ofbx ro be withheH from paymerts made to non-r€sidents: T}?e of IE'.ment Rate Employnent income (seaion 1 I6) Payments to contractors (sectionl I 7) Dividends (section I l8) Interest (section I 19) Managementlprolessional fees Relts and royalties (sectioD 120] Armuities (section l2I) Natural resouxce pa).ments (section 122) Payments Io or applications for tie benefit ol nonresident beneficiaries (sectiou 123) 25% lffio l5% 159L i 5Yo l5o/L lsa,i, 15% 15./. No. 1

Section 90 of the Goods and Services Tax Act 2009 isamended by insening the following new subsertion (3) immediately after subsection (2)" '(3) Notwithstanding any law to the conlrary, for the purpose oftbis section, commercial banks and other financial iDstitutions shall provide periodic access to taxPayers banking information on temrs and conditions prescribed by the Commissioner General ofthe National Revenue Authority to a specific bank or {lnancial institution". immediately after item 26 as follows- " ?7. Supply: Machinery D€scription: Machinery, Plant, equipment designed for use exclusively inl. Agriculture; II. Manufacturing; and Itr. Mining and upsueam petroleum opemtions. The Finance Act, 2424 l9 amended under subsection (2) by deletiog the regi*-ation thresbold of section 15 amount of"Lel00,000,oOo" ara inserting il following new registration ftioAfto, tlreshold amoutrt of "Le500,000" 200e. Amcrdmcnt of Secrion 90 of Act No. 6 of 2009.

2009 is amended by insertiDg the following new items 27 ard ,S !:r};:'"t Act ^_o. 6 of 2009. GOODS A}ID SERVICTS TAX ACT, 2OI'9 13. Section 15 of the Goods and Services Tax Act 2009 is Ainendmenr 20 No, I The Finance Act, 2021 Aolandment of Seclion 6 of Act No. 7 of 2011. Altrerdment of S.ction 36 of Act No. 6 of 2016. 28. Supply: Vegeable Oil DescriptioD3 Locally Produced edible vegetable oils extracted from seeds or fiom other parts of &uits are used in foods, both in cooking aod as supplements including butter atrd tocally produced vegetable oil-based soaPs. FINAI\CE ACT 2O1T

Section 6 ofthe FinanceAct 20I1 is amendedby repealingand replacing subseaion (2) with the following new subsection (2) "(2) A shipping €ent who contravenes subsection ( I ) shall be liable to a fme of- (a) not less than Le500,000 and not more Lel,000,000for6rst offender; and (b) not less than Le 1,000,000 and not more 1,e2,000,000 for repeated offeder. NNANCE ACT 2016 t 7. Section 36 oftbe Finance Act2ol 6isamendedby repealing Amendment and replacing that section with tle follou'ing new section - "36. (l) Notwithstanding any other law to the cont'ary, 2016 there shall be imposed on the value ofall contracls relating to the supply of goods, services and works: (a) a national health insuranc€ levy at a rate of 0.59lo in supPort of the Free Health Care . Programme; and (b) an education levy at a rale of l9lo itr support of the Education Sector. (2) The imptementation of the leYies referred under subseoion (l) shall operate as a final witbholding tax and sha[ be subject to dre Income Tax Act, 2000 reqrdrements for registration; filing and assessmenq audit and enforceme ; and co[ection'" No. I The Finance Act 2021 2t EXTRACTIVE INDUSTRIB REVENUEACI;MlE

Section I ofthe Extractive Industies RevenueAct 2018 is Amendmcnlamencted by inserting the following new definition irnmediatav aner nf f;*j'fi" I the words "revenue law" I I of 2ott. "royalty tetum" qreans a retum, including an anended' returD, that a taxable person is required to lodge under this Act, or any other enactrnent relating to fre adninistration ofthis Act. t9. S€rtion 43 ofthe ExtractiYe IndusEies RevenueAct 2018 is Amendmcnt amended by inserting the following new subsection (5) immediately o[ secxon {3 after subsection (4) of 2018. "(5) A person who ftils to file a myalty rcom by the due date shall be liable to pay a penahy equal to the greater of- (a) k100,000;cr O) l0% of the royalty amount payable for the period to \Yhich the retum relates. for each month iD which the relurn lemaiDs omstanding, until the rctum is filed or an ass€ssmeDt is issued in respect of the period to which the retum relates. 20- The Firsl Schedule of the Exractive Industries Revenue Acr 2018 is amended by repealing and replacing paragraph I with the following new paragraPh- " I .( I ) Subject to paragraPh (2), the following shall be the royalty rates for minerals- (a) in the case ofminerals obtained pusuant to an artisanal and smatl-scale mining licence- ?: No, I The Finance Act, 2024 @ 37i, for precious stones other than special stones; (D E7o for special stones; (iif I % for gold; and (iv) 370 for other cases, including bulk minerals." (b) in the case ofminerals obtaiDed prrsuant to mineral rights o&er than artisanal and smallscale mining licence- (i) 6.59'o for precious stones other than special stones; (D 87o for special stones; liif 57i, forprecious metals; (including gold) (iv) 3% for otber cases, including bulk minerals." Provided the exporter ofthe minerals in sutr'paragraph ( I XaXiii) shall make prior commitrnent to the National Minerals Agency and Bank ofsierra Leone to repatriate lhrough lhe commercial banking system, I 00% ofthe export proceeds within a period of45 days &om the day ofexport Amcrdmenr 21. Paragraph 2 ofthe First Schedule of&e Extractive of First lDdustries Revenue Act, 2018 is repealed and replaced by the HT,:: ii " rollowing new pa-agraph- 2018. "(l) Subject to the remainder ofrhis ParagraPh, the market value of minerals obtai.ned is- 2024 23 No. I The Findnce Act, (a) the realised gross price (without discount' commission or deduction) for a sale freeonboard (fob) at th€ point of export Aom Siera Leone or at the point ofprocessing or tlelivery within Sierra l-eone, as tbe case requires; and (b) deterrnined bY using- @ the actual terms ofsale: or (D in the case of a transaction between associated Persons or where the minerals are not sold within l2 months, using the arm's length standard as prescribed by section 95 ofthe Income Tax Ac! 2000 (Act No- 8 of2000)' p) The market value of a precious stone shall be (a) based on the curent market prices for wholesale rough precious stones of that nafure; and {b) determined as the highest of t}e values ascribed to tlle precious stone on evaluation by- 0 the mineral right holder; (ii) the Govemment e!'aiuators; and (iif an independent evaluator. (3) The market value ofgold shall be the weekly average ofthe l-onion PM Fix Price ofthe l-ondon Bullion Market Association in United States Dollars p€r fine troy ounce for the week in *'hich the gold is obtained. 24 No. 1 The Finance Act, 2021 (4) The market valu€ ofprecious melals (ot}rcr than gold) and bulk minerals shall be detemrined as the higher ot-- (a) the anount referred to in subparagrapir (1); and (b) 97 percent of the average of relevant interiational reference prices for the period in which the minerals are obtained as determined in accordance with subparagraph (s). (5) For the purposes ofsubparagraph (b) ofparagrapb 4- (a) an intemational reference price for a mineral (other than gold) shall be determined using the following indiccs: @ S&P Global; (ii) t ondon Metal Exchange; (iD Asian Metal; (iv) Commodity and Derivative Exchanges; and (v) Bloomberg; and (b) regulations may- 0) add to or subtr.act from the list in subparagraph (a); (if specify the period to be used for pricing a panicular mineral or terms for using a particular index; aad No. I The Finance Aa, 202t 5 (iii) incorporate other rules for determining the avenge and amount of releva[t intemational reference prices. (Q Where minerals (olher than precious slones or precious metals) shall be supnlied under a contract over a period exceeding one year- (a) tbe method for determining the value of minerals to produce a result in accordance with subparagraph (l) may be ag:eed with lhe Commissioner General, in consultation with the Minisrer responsible for finance and the National Minerals Ageucy (advance pricing agreement); and (b) the agreement referred in sub paragraph (a) shall be issued in accordalce with section 8 of the Income Tax (Transfer Pricing) Regulations 2021 . FINANCE ACT 2OI9

' of Section (a) inserting subsection "(t) before the word ii.", t;t "Public" at the start ofthe provision 2019. (b) inserting the following new subsections (2) and (3) itimediatety after subsection (l) (2) Sub-seclion ( l) shall ncl apply to the following public servants posted by the ministry relating to foreign affairs ,or other central govemment foreign sewice and are assigned to duty statioos abroad upon disengagemenl fiom tbe public seryice- The Finqnce Act, 2021 No. t (a) o) G) (d) (e) (0 G) o) (D Minister PleniPotentiary; Mioister Counselor; Chancello6 First secretaryl Second Secretary; Third Secretary; Financial Attache: Defense Attacbe; Other non-political apPointees' (3) For rhe avoidance of doubt' public slrvanl ref11;l to *d.r Jrection (2), shall upon disengagement fiom the publtc r.*-"" u" "tirti.a ,oont tontl'' g'o" salary for every year served ilil; ffi;;;1, orfts 1eg6l$r"* zrade level' to wbich thev were entitled if rhey had contnueo working in Siera Leone until ,;; ;;;;;;s"rent and not on rhe basis of the aggregate H;i;;;";;i'.d while assigned ro dury stations abroad' Aficndment of Seclion 52 of Act No. ! of 2021. FINANCE ACT 2O2,'

-a t.pf"Ji"g ,n"i*ction with the fo[owing trew seclion 52- Rcp.trirtioD 52 (l) Notwithstanding any other law or enactment to of ixport the contrary an exPorter ofproccada a) mining and Mineral Products: b) quarrying Producls; c) agriculturalProducts; d) forest aod forestrY Products; ei fisheries and marine productsl and f) other Products' shall from the lst dayofJanuary 2024 rePatriate for - ,tffJ,fr. rf,t tgft ,fte commercial batrking syster! the -iri-r- "t:O p".ent ofhis export proceeds to-Sierra I--eon" ,^,itfrio a petod of45 days fiom the day ofexpon x No. I The Finance Act, 2024 (2) The exponer referred to under subsection ( I ) shall make prio; comr:ritment to the relevant ministry, deparanent and ageocy (MD.A) Io rcpatriate through the commercial banking system and Erlrt (ubmi? copies of thc rEpaaiatioD documents to the Bank of Sierra Leone ard relevant MDA as evidence ofexport. (3) Where the exporter referred to lmder subsection (l) fuils toa) repatriate as specified under subsection (l), he shall be liable to pay as penalty an accrued interesl applied on the minimurn amount to be repatriatdd al the prevailing LIBOR rate; and b) submit eyidence of repatriation referred to under sub-section (2) it shall be presumed that the exponer has contravened sub-section ( I ) and shall not be issued renewal ofannual licilse and expofl clearatrce cenificate unless tbe contra.--' is Proved FINANCE ACT 2023 a) Le0.l on billable or-net mobile voice calls per minute; b) Le0.05 on billable off-nel mobile voice calls per minute; c) Le0.2 on outgoing intemational voice calls perminute: f,4. Section I 3 ofthe Finance Act 2023 is amended by repealing Amexocnr and relrlacing thar section with rhe following new secrion t3 :i:"jl,.lT. t Regutatory Fees 13 There shall be imposed on telecor.launication of 2023' !:j:t'" operarors the foll;wjng regularory (char.g;--.\ on cellular services- !7 28 The Finance Act, 2021No. I Ameodment Of A.I NO 25 ol 2023. d) 2?i, of the tolal commission. fees or charges deriyed from mobile money transactions; and -O uundles)tn tbe totil sales value'" TTIETAX AND DUry EXEMPTIONS ACT 2023

The Tax and Duty Exemptions Act 2023 is amended byinserting the following new section immediately after section 22 plarl, machinery and equipment for manufacturing biodeE .dablc plastic bag altematives "22A. Any person importing plant' macHnery or equipment for the manufacn[ing of paper bags, cottoo bags, compostable bags: or any biodegradable plastic bag ahematives for his manufacturing business purpose and not resale, shall be entitled to impon them dutyfiee for a period of five years effective from tie date of lus import regisralion". AmcndInent i,iit-iiiii'is 26. Seclion 35 ofthe Tax and Dutv Exemptions Act 2023 is of Acr No 25 amended in subseclion 4 by repealing and rcplacing that subsection oJ 2023'. with the following new subsection '(4) A provision in any legislation other than the- (a) ilem (w) of Part Il of the Schedule to the Customs TariffAd 1978, {b) Tadff itemNo.22.09 of t e First Schedule of the ExciseAct 1982, (c) Goods and Services Tax Act 2009' Section 49 ofthe Finance Act20l3, providing for a grant of an exemption is hereby repealed. (d) The Fiaance Act, 2021 ENo. I GFNERAL PROIISIONS 2?, (l) Subject to subsectioD (2) there shall be a fixed s€t number ofdemurrage free days for importers ard exporters afler rviich shipping lines shalt apply charges such as, but not limited to, demurage and detentioit charges per container per calendar days, excluding weekend and public holidays. (2) The number ofdemurage free" days referred to under ssubsection (l) shall apply in the case of- {a) importers, ten (10) official working days (calendar days, excluding weckends and holidays; and (b) in the case ofexporters, ten ( l0) oflicial working days (calendar days, excludiDg weekends and holidaYs) (3) For the purpose ofthis section, demurr€e caused by delays on the part of carriers shall not be counted as pan of the allowable demurrage free days referred in subsection ( I ).

(a) the Pefioleurn Regulatory Agency; O) the ministry responsible for forestry; (c) the ministry r€sponsible for tourism; and (O the ofrice ofthe Administrator and Registrar General shall be as set out in the Schedde Fccs. tates and charges for MDAS. 30 The Finance Act, zAX1 No. I SCI{EDUIJSFORNG{.TAXREVEI{IIEFEESANDI'EVIES 1. PSIROLETIIYI REGULI.IORYAGENCY CRA) ,A: Registreti on F€e (New EnlraBts) In?o( rdl,ld-Y olis]br€ hnkdd€; bdk deol qY4e t}1k G& S,*(Yts Ia* fd.i.drtr I-ci0-i!10 l'ls m0 l B: Registration Fee &qi$'iin Ibard $qrEk tlrxaor:orpna r-&0il 'liilh!&tL c. LiceDs€ Calcgorl Etisrtr! _ I ors StalrotrCon B unk$ng s)n F[liel ls.-*i€oascnl s) 1.15,000 LSSr5.000 Tr&$onslion b v6stl (non. impon t;oil- BJlk s' IO lmpon ,olhcr opeBtorsi L.10,u00 ,j D.al6B rc. scwic. s.lrrons (R.gional) 0 c Ldo,000 ll 0 Lcl.:r'.) Ldrm, 2024 31 No. 1 The Finqnce Act, \0. Catcgon I RegllaloD facs trr litra D PetroleuD R€gulatoryAgeocy Ftnd E: SitelospectioDs Fee FCti L.0.2-i 2. MINISTRY OF EI\MRONMENT PERMTf, LICENCE AI'ID FEES \ Lr Lrs S L For.sr C l.sranc. Lrccnc./h. 2,5C0 155 Corc.s'ion RGrr (L.rd LG.s.) ha/v..r tl2 l0 5,000 165 P.oc.rty V.rl/Corc.33i6D 8,3!C 5 Reer.rr.lron of Pot.r Sas 2 000 i 25 6 TiD brr D.Dor F.. 16,r80 Trn bG. rBctory Fe. il,t60 cngr.oa) prod"iiM Lic..c. y.sr (L!r&! 1,500 R oralry on Cha.coal Eip ortrli3.2 cubic E.tct 13, ! 60 10. bsrcoal Production Fc./Bonth :c0 I5 1l TEb.r r.t.r.r f../ycsi 1,000 60 i: Tir br. T r. i tporl l.rt it i5 l1 7',l 1i Pol.r Tr.r!port PcrD it ,00 ?00 t 50 t20 t0 C b. .co.l TrrE3Dorl P.to ir 3oo rJo t20 l2o lo ri rei * ;"d/ri.- w ood T..rrDo'r r.,-i. t50 t 20 t20 t5 IO The Finance Act, 2021i2 No. I MINOR FORf,ST PRODUCT FEES Forrit Product R ttnn OFFICE OFADMINISTRATOR AND REGISTRAR GENERAL REVISEDCHARGES A. Marriage Registry McaDs of transPortrtiotr Rrte l-r t:ss Trailer Te, ErE t uck Six tyc truck Boat 2@ tn l0 Tie-tie Trail(r Ten t rc tsuck Six ryrc ruck Bo2[ IO Bsmboo Poles l6il€r Ten tlre tnrck Six tlre filck Bod 2@ t5 l0 Pricts Scfiices OlTertd\o. ls0 Mushm Sales of Ccnifi cateI ri0Christiafl Sales of Cettifi.d. Civil3. S.rrrb Fees4 il| i llc Ceflifled Tr,Je l5c Dvorcad6. i50of Certlfic{teMuslin d ofCedicateCfuistian8 5(n Licenses CenitcateClristianl0 500 Saies of CertificateCivil No. I The Finance Act- 2024 33 B Business Registry Strvices Offerrd Pric6 (l,c) I Solc Propri€torship 220 PannershiD 300 Change of Busin€ss Narne r50 Change of Busirrcss Address 150 ) Change of Business Nature 150 6 Ceni{ied True Copy t00 ,7 I-ilirg F€es 50 8 Closure ofBusiness 50 9 Search/ verification 50 t0. Openine of New Bmnch t50 3 I 31 No. I The Finance Act, 2024 c. l,and Registry No. Serlic.s Orfcr€d Priccs {I-.) I will Deposiled 2s0 WillRegistcred 400 3 will Withdrawn 2i0 4 Conveyance per coDy ! Er(ra r00 (, C {00 1 Voluntar! Conveyance ExEa copy r00 .t00 13 Leases Dcr cogy 9 Leases Extra copy l0 ll Power ofAcorncy Extra copy t2 40c l3 Llongaac Exsa coDy 100 14 Mrscellaneous lnsEuments .100 I5 Miscellancous Instrumcnts Extta 100 t6 Declaration 400 t1 D.claration Ex?a 100 t8 Minire trases per copy 400 t9 MiDmg Llases ExEa copy 20 Relcase of {00 21 Release oi Mortgagc Exlra coDy 100 21 Fflen {00 23 E{ra 24 i!4€morial ofJud 400 Me morial ofJ E\tra 100 26 400 21 t00 4m r00 N,lortaasc Dc' coDy Adoodon Aera€Dmt Exira coDr_ No. I The Finance Act, 2024 35 D. tand Tar Category Scrvices Of|rtd Priccs Or) I CmEd of Frcelol*It 400 Other ,A'ea in th. U'est 200 Farmland l0 1 hovincial Headquaf er To$rls 200 E Intellectual Property Scrvicrs Offcred Prices (Lc) 1 Appl jcation & Rcgistralion of Trademarks ADplicdions 600 2. Reoewals of Trademark Applicdions 600 l Assign n€nt of Ttademarks Applicdions 300 I Change of Proprietor's Address 200 5 Cllalge of Proprielot's Narne 200 6. Re-rcginrarion of Patent 200 1 Industnal [tsign ?.000 I 100 9 200 IO, Ceni! cop] 100 I' Rc-classificalion CopFighr I,600 tl Reeistrarion of Nalio.lal Pdcnt 5,000 14 Assigrmem of Palent 250 )5 Search Fees 50 16 Rcgistlatron of Serics of Tradcmarks 600 17 Licenses ofTradcmark 300 t8 250Crrtificare of to be use m Proceads % No. I The Finance Act, 2021 I-ATIOT-AL TOtiRIS f BOARD LICENCf, FEES I. \IESTERN AR}:A A" HOTEL CAIDC,ORY Crtegory Proprirtor fee (tr) lllen.ger F.r (kl Class I 29.920 26928 ,0,0s0 Class 2 9.O12 Class 3 n,40 Class 4 n -952 6.018 Class 5 15.680 4._120 7 560 B. GUEST HOUSE Crrcgory Propri.ior l-cr (Lc) Itlrnxgtr Fce(L. Class I | 1,037.60 4,082.40 Class 2 8.278.20 3.06t.80 Clars 3 3,834.00 r.566 00 Cl8ss.l 2.233 E0 826.20 Class 5 Li1.i.00 .186.00 C RESTI.JRANTS Csregory Proprietor Fft (Ir) Ittrragcr F.c {L€) Clals I 7.992 1.008 Class 2 2.2M 756 00 Class 3 1_496 Class 4 t.346 .lst 60 Class 5 691 306 00 D. SNACKSBAR C.!cgory Totrl F.r (t ) C,ass I r,000 E CASINOS Crtcgoa_ Propriclor Fre (l-r) Ilan.gcr lt. (tr) Class I 29,920 00 20,080.00 Class 2 25,928.00 9.072.N Class l 2?..{40.00 7,560.00 Class 4 10,512.00 1.888.00 Class 5 8.278.20 1.06t.80 504.00 i c"t.go4 No. I The Finance Act, 2021 n E TRAVELAGEI\CIES/TOURISMTIANDUNGAGEAICIES Proprielor F.e (Il) Ctass I 40.00 i r6q.Qq 7.6s2]9 901.20 Class 3 i .00 630.0c 4E6.00I J I4.00 I r 82.00 Class 4 G MGHTCLUBS Proprietor Fe. (tr) MlnaBer Fee (L) ?40.00 i CJ,J 2.692.80 907.10 Class l r.870.00 788.00 292 & 65?.00 241c0 Cateqorl Class I C'tass 2 Cla6s 4 Clas-s 5 2. PROVINCES ,.r. HOTELCAIFf,ORY I Cat€ory Class I Class 3 Class 4 B. GU-ESTHOUSE Propri€tor Fcc (Le) Mamger Fee (Ir) 3,I7l I 1;3 lt5 ?E2 Class 3 l 131 419 155 i:s 45i 1r. Car.gorl Class I C-ia5's 2 Proprielor Fer {lx) 2 1 6.L l1@ Er8 1?5l [trEsger Fec {k}l I Mrorgcr Fce tlc) i 38 No. I The Finance Act 2021 C RLSTLTRANTS Crtegory Proprietor F.t (Lc) Class I 755 279 Clars 2 679 251 Class 3 Class 4 3i7 119 126 33 ItaDager Fc. (Lc) D. SNACKS BAR Cetegory Total Fe.(Lc) Class I ItL, f,. cAslNos Propdetor Fee(L) Meorgcr Fee (Lt) Oass I 29 920 20.080 26.928 9.A72 Class 3 22,440 ?,560 Class,l 10,512 ,],E8E Cl \s5 8278 3,06 t Cstegory F. TRAVEL AGENCIES/TOURISM HANDLN^G AGINCIES Celcgory Proprictor Fte (Lc) laaagcr F.e 0r) Cl&ss I 3,?40 1260 2,692 $1 r,870 1,314 486 Class 5 1.182 -1119 Class.l 630 G. NIGHT CLUBS Proprietor Fe€ (Ir) lrsnrgcr Pce (L.) Class I ),140 1,260 Class 2 2,697 907 Class 3 1,870 630 Class 4 788 Class 5 657 213 Crtcgo4 s23 | re5 I Class 4 I 2024 39 No. I The Finqnce Act, PRICE (Le} 35 000 ] TOWN LOT r 05 000 3 TOWIi LOT 4 TOWN LOT 3. LI]MLEY BEACIIDEVETOPMENTPRO'ECT 2 TOWN LOT I40 000 Note: Land DevelopmcDt Fees for each alevel6pment site = Numbcr of town x L = 35'000 1. BEACH FRONT TOlv\-_ LoTs 70 fee{ 105 !:e.1 140 Fe€t Not: Lanal Developmmt Fees for each developrnent site = Number of rowfi x L = 25'000 USE OF CAR PANKS AND OTSER OPEN SPACES ALONG THf, LU]IILEY BEACH AREA Pf,R DAY EvE\TS School Aclivities Small EYenls,'Shows PRICE PRICI (Iri 35 Feel 0ot] 1 000 .1.500Fai$ Based O.ganizati 1,500 5C0 Corporde Instituilofls TOWN LOTS 4 No. 1 The Finance Act, 2024 Passed in Parliarnent this 9ti dry of Novenber , in the year of our Lord two thousand and twenty tfuee. PARAN UMARTARAWAILY, Clerk of Parlianent. Trus PxorEo l,,{PnessloN has been cArefully compared by me \r'ith the Bill which has passed Parliament and found by me to be a true and correct printed copy ofthe said BiU PARAN UMAR TARAWALLY Clerk of Pa iament. PRnrro AND PuBLISTED BY rrrr GovER]"arpfi PirNrDIc DEPARTMETTT_ Sr€R&a LEoNE' Gtz*tt No.3 or t ITI, JANUARY, 2024