Tax on property income in Sierra Leone
July 03, 2015
INDIVIDUAL TAXATION
Nonresidents are taxed on their income from sources in Sierra Leone. Married couples are taxed separately.
INCOME TAX
Income is taxed at progressive rates.
INCOME TAX 2014 |
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| TAXABLE INCOME, SLL (US$) | ||
| Up to 3,600,000 (US$868) | 0% | |
| 3,600,000 - 7,200,000 (US$1,735) | 15% | |
| 7,200,000 - 10,800,000 (US$2,602) | 20% | |
| Over 10,800,000 (US$2,602) | 30% | |
| Source: Global Property Guide | ||
INCOME TAX 2013 |
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| TAXABLE INCOME, SLL (US$) | ||
| Up to 1,800,000 (US$434) | 0% | |
| 1,800,000 - 5,400,000 (US$1,301) | 15% | |
| 5,400,000 - 9,000,000 (US$2,169) | 20% | |
| Over 9,000,000 (US$2,169) | 30% | |
| Source: Global Property Guide | ||
RENTAL INCOME
Rental income earned by nonresidents is taxed at a special flat rate of 25%. It is a final tax, withheld at source.
CAPITAL GAINS
Capital gains derived from selling a business or investment asset are treated as ordinary income and taxed at the standard income tax rates.
Capital gains derived from the disposal of other assets are not subject to taxation.
PROPERTY TAXATION
CORPORATE TAXATION
INCOME TAX
Income and capital gains earned by nonresident companies are taxed at a flat rate of 30%. Income-generating expenses are deductible when computing for the taxable income.
RENTAL INCOME
Rental income earned by nonresident companies is taxed at a flat rate of 25%. Income-generating expenses are deductible when calculating taxable rental income.