TAC101 – Fundamentals of the Sierra Leone Tax System

About this Course

 

Practical application of Sierra Leone Tax Law appears daunting, especially as you delve into more complex areas such as taxation of permanent establishments, treatment of partners in a partnerships and sole traders with other sources of income. It is, however, our view that grasping the core principles that underpin general taxation is invaluable to any Practicing Accountant or Tax Adviser; and helps in reducing the daunting aspects of the tax system.

TAC101 is the first of the three courses in the Taxation Series offered by Freetown Business School and it aims to teach a general introduction to Sierra Leone taxation, the regulatory framework and calculation of Income Taxes (including advance taxes), Capital Gains Tax (CGT); Goods and Services Tax (GST) and Import Taxes.

Course Objectives: On completion, you will be able to:

  • Demonstrate understanding of the operations of the Sierra Leone tax system, the self-assessment system and relevant tax legislations.
  • Identify exempt persons and the conditions for exemption with respect to Income Taxes, Capital Gains Tax and Goods and Services.
  • Identify Income Tax, Capital Gains Tax and GST taxpayers.
  • Understand how the residence status of a taxpayer affects the amount of tax payable.
  • Understand the Small and Micro Enterprises (SME) Tax Regime.
  • Calculate Income Taxes (including Pay as You Earn Tax, Withholding Taxes and Corporation Tax); Capital Gains Tax; Goods and Services Tax; Excise Duty and Import Taxes including an understanding of the Harmonised System (HS) for Commodity Classifications.

Registration:              Participants will be required to register through our website www.fbs.edu.sl for the course and are expected to attend all classes to be eligible to receive a Certificate.

Dates:                        1st – 25th May, 2019.

Dates:                      1st – 25th May, 2019

Sessions:                   Wednesdays, Fridays (6:00pm to 8:00pm) and Saturdays (12:00pm to 2:00pm).

Fee:                             Le3,500,000 per person. 5% Discount for Women. Additional 5% Discount for Groups of 10+

Venue:                      Africell American Corner, 25 Bathurst Street, Freetown