Self - Assessment

The Sierra Leone tax system is a self- assessing system where taxes levied would depend upon the declared expected turnover and chargeable business income of taxpayers.  Taxpayers are therefore required to determine and declare a fair assessment of their chargeable income and tax payable/liability. This is usually done by submitting a Revenue Budget Estimate. This self-assessment, on one hand, should ordinarily be accepted by NRA on its face value as a conclusive, true self-assessment return filed by the taxpayer, on the other hand, as an assessment served on the taxpayer by the Commissioner by law.  

Self Assessment is applicable to all taxes administer by Domestic Tax Department such as:
•    Goods and Services Tax
•    Corporate Tax
•    Individual and Partnership (Trade Tax)
•    Trust
•    Pay As You Earn (PAYE)
•    Withholding Tax
•    Foreign Travel Ticket Tax
•    Pay-roll Tax

It is a serious offense to understate your profits deliberately.