First Schedule, The Income Tax Act, 2000

P ART I (Section 4(1)) Rates of tax applicable to individuals resident in Sierra Leone for the year of assessment commencing 1st April, 2000 and each succeeding year of assessment. If chargeable income is: Not over Le480,000 Over Le480,000 but not over Le2,880,000 Over Le2,880,000 but not over Le4,560,000 Over Le4,560,000 but not over Le7,500,000 Over Le7,500,000 The tax is: Nil 25% of the excess over Le480,000 Le600,000 plus 30% of the excess over Le2,880,000 Le1,104,000 plus 35% of the excess over Le4,560,000 Le2,133,000 plus 40% of the excess over Le7,500,000 P ART II (Section 4(4)) Rates of tax applicable to chargeable property income of minors resident in Sierra Leone for the year of assessment commencing 1st April, 2000 and each succeeding year of assessment. If chargeable income is: Not over Le360,000 Over Le360,000 The tax is: Nil 40% of the excess over Le360,000 P ART III (Sections 5 and 6) Rate of tax applicable to companies, other than companies under section 21, resident in Sierra Leone for a year of assessment commencing on or after 1st April, 1999 and to trust income of a trustee for the year of assessment commencing on or after 1st April, 2000 and each succeeding year of assessment. Rates of Tax 35% P ART IV (Sections 117, 118, 119, 120 and 121) Rates of tax to be withhold from payments made to persons resident in Sierra Leone. Type of payment Payments to contractors (section 117) Dividends (section 118) Interest (section 119) Rate 5% Rents (section 120) Royalties (section 120) Pensions and annuities (section 121(2)(a)) Natural resource payments (122) P ART V (Section 4(2)) Standard Assessment for Certain Types of Business and Property Income Every Individual belonging to a class or description of persons as specified in this Part shall be liable in respect of the person's business or property income to a standard assessment of a minimum tax applicable to the class or description of persons to which that person belongs. Item Class or description of persons Minimum tax payable by the standard assessment in the Western Area Tax (Le) Minimum tax payable by the standard assessment in the Provinces Tax (le) Goldsmiths other than those described in item 2 Goldsmiths in Makeni, Makeli, Masingbi and Kono Blacksmiths, tinsmiths and persons in allied trades Moneylenders Auctioneers Wine and beer sellers Surveyors Druggists and midwives Owners of furniture and upholstery shops Motor mechanics and fitters Tailors Seamstresses Hairdressers Barbers Cattle dealers Butchers Electricians Refrigeration and air conditioning engineers Radio and TV mechanics Shoemakers and repairers Booksellers Hawkers in general Watch repairers Secondhand clothes dealers Secondhand parts dealers Cafes and cookery shops Petrol peddlers Mill operators Taxi operators Lorry and tipper operators carrying passengers for hire or reward Omnibuses and minibuses carrying over 20 passengers 30,000 30,000 30,000 48,000 Omnibuses and minibuses carrying up to 20 passengers Rice dealers Local fishing boats without engine Local fishermen using drawchain Local fishing boats with engine Foreign trawlers Local trawlers Petty traders with table or baffa Trailers (single or double) Diamond exporters (percentage of export value) Exporter’s agents Non-citizen diamond dealers Citizen diamond dealers Alluvial diamond miners (per license issued) Gold miners (per license issued) Non-citizen gold dealers Citizen gold dealers Gold exporters Landlord (percentage of gross rents) 1,200,000 600,000 150,000 2% 960,000 1,200,000 600,000 150,000 2% 960,000 Company diamond exporters shall also be liable to a standard assessment of a minimum tax at the rate of 2.0% of export value.