Sierra Leone income tax rate! Are you looking for information on the Sierra Leone income tax rate? Do you want to understand how to calculate paye tax in sierra leone? Then you’ve come to the right place.
An individual, whether employed or self-employed, is obligated to pay tax on his income based on the income tax levels in effect for the year in which the income was created or accrued.
Searching for, How is PAYE pay calculated? What is the percentage of PAYE tax in Sierra Leone? How do I calculate how much tax I pay?
In this post, you will learn about the 2023 Sierra Leone income tax rate, how income tax brackets works, the personal income tax rate, and much more.
Individual income taxes in Sierra Leone is 15% for the fiscal year 2022. The tax rate you pay will be determined by the type of income and the amount you earn.
Personal income tax rates
The Personal Tax in Sierra Leone stands at 15 percent.
How is PAYE pay calculated?
PAYE = (Total tax payable – total rebates) / 12
Let’s look at an example: Sipho is 29 years old and in 2017/2018 tax year earns a fixed monthly salary of R20 000. His provident fund contributions total R2000 per month and he receives a R1000 monthly travel allowance
Non-residents are liable to income tax on Sierra Leone-source income and capital gains tax on capital gains from Sierra Leone assets.
We hope you found this information on the Sierra Leone income tax rate useful, please bookmark us for future updates.