The Ministry of Finance has commenced consultations with key private sector players in developing tax policies to form part of the 2024 Finance Bill to be tabled by the Minister of Finance later this year.
These consultations are part of the Ministry’s approach to formulating revenue and tax policies with public institutions and the private sector to get their input and seek cooperation when these policies eventually come into effect.
On Tuesday, 17th October 2023, the Ministry of Finance engaged the Chamber of Mines, which has representatives from all major mining companies operating in Sierra Leone.
According to the Principal Deputy Financial Secretary (PDFS) Samuel E.B Momoh, this engagement discusses tax policy proposals for the Finance Act 2024.
This, he said, is consistent with public policy formulation principles.
He noted that these engagements will inform taxpayers of the government’s thinking in terms of revenue mobilisation and also prepare them to honour their tax obligations predictably.
These engagements will continue with Importers, exporters, Local Manufacturers, Telecoms and private sector players.
In the ongoing FY2024 bilateral budget discussions, the Ministry of Finance is already engaging the Ministries, Department and Agencies on their respective revenue generation potentials that need to be enhanced to boost domestic revenue generation.