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

TAXABLE INCOME, SLL (US$)
TAX RATE
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

TAXABLE INCOME, SLL (US$)
TAX RATE
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.

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