Sierra Leone Tax Tables 2024 - Tax Rates and Thresholds in Sierra Leone

This page contains the tax table information used for the calculation of tax and payroll deductions in Sierra Leone in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ SL, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Sierra Leone or would like to add to or suggest amendments to the information herein then please contact us.

Sierra Leone Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Sierra Leone are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Sierra Leone Tax Calculator 2024.

In Sierra Leone, social security deductions made by employees to the National Social Security and Insurance Trust (NASSIT) are generally considered deductible when calculating taxable income. This means that the amount contributed by employees to NASSIT can be deducted from their gross income before the income tax is calculated, thereby potentially reducing the amount of taxable income and the overall income tax liability for the employee. This provision encourages participation in the social security system while providing some tax relief to contributors.

Sierra Leone Social Security and Payroll Deduction Rates in 2024

In Sierra Leone, both employees and employers are subject to various social security and payroll deductions. These contributions are fundamental to providing social benefits and protections for the workforce. The social security system in Sierra Leone is designed to cover a range of benefits, including pensions, healthcare, and employment injury benefits. These contributions ensure a safety net for workers and their families, contributing to social welfare and economic stability.

National Social Security and Insurance Trust (NASSIT)

The cornerstone of social security in Sierra Leone is the National Social Security and Insurance Trust (NASSIT), into which both employers and employees contribute. NASSIT is responsible for administering various social security benefits, including retirement pensions, invalidity pensions, and survivor's benefits. This scheme is designed to provide financial security for workers and their dependents in the event of retirement, disability, or death.

Health Insurance

While a formalized national health insurance scheme is still in development stages in Sierra Leone, there are ongoing discussions and initiatives aimed at establishing a comprehensive health insurance system. This system would require contributions from both employers and employees to fund healthcare services, ensuring access to medical care for insured workers and their families.

Employment Injury Benefits

Employment injury benefits are part of the social security provisions aimed at protecting workers who suffer from job-related injuries or diseases. These benefits include medical care, rehabilitation services, and financial compensation for loss of income due to workplace accidents or occupational diseases. The contributions to the employment injury benefits scheme are usually the responsibility of the employer.

Unemployment Benefits

Sierra Leone's social security system currently does not provide widespread unemployment benefits. However, there is recognition of the need for such a program to support workers who lose their jobs. Efforts and discussions are ongoing to explore the feasibility of introducing unemployment benefits as part of the broader social security framework.

Challenges and Reforms

The social security and payroll deduction system in Sierra Leone faces several challenges, including coverage gaps, informality in the labor market, and administrative inefficiencies. To address these issues, the government and relevant agencies are actively working on reforms to enhance the effectiveness and reach of social security services. This includes efforts to expand coverage to informal sector workers, improve compliance and collection mechanisms, and strengthen the capacity of institutions like NASSIT.

These social security and payroll deductions play a vital role in building a resilient and inclusive social safety net. For employers and employees alike, understanding these deductions and their benefits is crucial for ensuring compliance and maximizing the advantages of the social security system. As Sierra Leone continues to develop and refine its social security framework, these contributions will remain key to promoting social welfare and economic stability.

Sierra Leone VAT Rates in Sierra Leone

VAT rates for Sierra Leone are reviewed annually, you can use the VAT Calculator to calculate VAT due in Sierra Leone or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Sierra Leone

The following tax tables are supported by iCalculator™ SL as part of the suite of free tax tools we provide for Sierra Leone.