Sierra Leone Gazettes Finance Act, 2023

The Sierra Leonean Official Gazette March 28 published Finance Act, 2023. The law includes measures: 1) changing the stamp duty fee rate on conveyances of real and personal property, mortgage debentures, and property liquidations to 2 percent of consideration; 2) introducing a 3 percent minimum alternate tax (MAT) for resident companies beginning with the assessment year starting Jan. 1, if higher than corporate income tax payable; 3) providing a MAT credit of the amount that MAT exceeds normal corporate income tax liability, and allowing a 10-year carryforward; 4) providing a MAT exemption to specified start-ups, companies in liquidation, foreign companies ...