Consulate of Sierra Leone in Syria

Business & Investments

Why Invest in Sierra Leone?

Invest in Sierra Leone:Over the last few years, Sierra Leone has enjoyed an increasing stability, which enhanced investors trust in the country’s economy.

As a fast-growing economy, Sierra Leone has become an established business destination for foreign investors. The government has been encouraging the foreigners with generous incentives that reduce the general cost of doing business in the country.

General information regarding taxes, tarifs, and foreign investors incentives. For updated and more detailed information, please visit the official government websites.

Taxes

Individuals in Sierra Leone are subject to a tax rate between 20 and 30% . Businesses and firms operating in the country are subject to a 30% cooperate tax rates. Taxes on precious metals are 4% and 3% on other minerals.

Diamond export is subject to a 5% tax.

Tarifs

Importing Tarifs depends on the goods imported: Luxury goods can face up to 30% customs tariffs. However, there are duty-free items, specifically the ones related to agriculture industry, machinery, textbooks, and medical equipments.

Keep in mind that there is a 15% sales tax on all imports .

Incentive for Foreign Investors

Foreign investors can benefit from various incentives. Those investing in the mining sector for example, receive 100% deduction for exploration and up to 40% deduction for first year production cost. Tourism investments and fisheries are also subject to generous incentives.

If exporting locally produced goods, export licenses are not required. The exception is for precious materials such as gold and diamonds.

The Consulate of Sierra Leone in Syria

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