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Sierra Leone pledges to tackle tax evasion in the Marine Sector


A foreign fishing vessel in the Sierra Leone waters
Faced with an estimated 15 percent shortfall in domestic revenue due to Covid-19 lockdown restrictions, which battered the economy, Sierra Leone is stepping up efforts to tackle tax evasion in the maritime sector to boost the country’s focus.
According to the updated IMF forecasts from 14 April 2020, due to the outbreak of the COVID-19, GDP growth is expected to fall to -2.3% in 2020. Sierra Leone GDP for 2019 was $3.94 billion.
The revised lower projected growth rate will compromise the country’s ability to meet its debt and developmental obligations.
On the other hand, the country’s National Revenue Authority (NRA) in its economic update report of July 2020 estimated a 15% fall in domestic revenue. The tax authority also warned that the government would take several actions such as business closure, court action, or ....

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