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Join Statement By Mul Ti-Donor Budget Support (Mdbs) Development Partners In Support Of The Launch Of Goods And Services Tax (Gst)
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Jan 13, 2010, 17:00
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JOIN STATEMENT BY MUL TI-DONOR BUDGET SUPPORT (MDBS) DEVELOPMENT PARTNERS IN SUPPORT OF THE LAUNCH OF GOODS AND SERVICES TAX (GST)

The introduction of the new goods and services tax (GST) on the 1st January 2010 marks a historical milestone in the economic development and prosperity of Sierra Leone. The new single rate for GST replaces the previous domestic and import sales tax, and other taxes, which complicated the tax regime and caused low payment compliance.

Sierra Leone has one of the lowest domestic revenue bases in the World, at only 11.3% of GDP in 2009. This makes the Country overly dependent on foreign aid obstructs economic development. Increased tax revenue is essential for the improvement of public services. All GST revenue are to be used to expand and improve the quality of public services delivered to the citizens of Sierra Leone such as health, education, roads and water. A strong tax base is also a fundamental part of a democratic, accountable state.

For these reasons, the World Bank, European Commission, African

Development Bank and UK Department for International Development join the Government in calling on all citizens, particularly businesses, to support the implementation of GST in the correct manner, and without a negative impact on the poor. The economic development and future prosperity of Sierra Leone depends on it.

DFID, WB, EU and AFDB. 7th January 2010, Freetown.


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