Attorney General to review agreements with companies
Freetown, July (SLENA) – A public notice from the Attorney General’s Office dated and issued last Friday 28th June 2013 stated specifically that as part of government’s incentive package for the development of the private sector and in furtherance of the Agenda for Change which has given way to the Agenda for Prosperity, the private sector now benefits from a wide range of Tax Waivers and Concessions.
These Tax Waivers and Concessions, according to the Notice, will include waivers of duties and taxes on fuel and lubricants.
The notice however disclosed that these waivers have resulted in a huge revenue loss to the government estimated at Le. 2.3 billion a week, noting that the revenue loss has become unsustainable and therefore cannot be borne by the Government of Sierra Leone any more.
“As a result of the foregoing and after consultations with the relevant companies, the Government has now decided to remove all Tax Waivers and Concessions with effect from 1st July 2013,” the notice reads.
The Government has therefore mandated the Office of the Attorney-General and Minister of Justice to review all relevant agreements between the Government and the affected companies to effect this policy.
Stay with Sierra Express Media, for your trusted place in news!
© 2013, https:. All rights reserved.