Africa-Press – Sierra-Leone. The Minister of Finance, Ahmed Sheku Fantamadi Bangura, on Wednesday tabled the Financial Year 2026 Finance Bill before the House of Parliament, outlining revenue measures expected to generate an additional NLe 2.85 billion, equivalent to 1.5% of the country’s GDP.
Presenting the bill for ratification, Minister Bangura said the proposals are intended to strengthen tax efficiency and compliance, which he described as “critical for easing fiscal pressures and ensuring sustainable development.” He stressed that no nation can achieve long-term growth without strong domestic resource mobilization to support effective public-service delivery.
The Minister warned that failure by the state to provide basic services undermines public trust, weakens institutions, hampers democratic governance, and stifles economic progress.
To confront these challenges, he said the Finance Bill 2026 introduces reforms aimed at boosting administrative efficiency, improving enforcement, supporting private-sector growth, and addressing persistent issues of poverty, inequality, and vulnerability.
Key policy measures in the bill include:
Zero import duty on LPG gas, accessories, cooking stoves, solar panels, and other home-system components.
Increased excise duties on tobacco and tobacco-related products.
Restoration of excise duty on cement at NLe 10 per 50kg bag, a measure previously suspended to mitigate global economic shocks and the effects of the COVID-19 pandemic.
Extension of excise stamp requirements to both imported and locally produced cement, sugar, fertilizer (bagged or packaged), and cooking oil in containers.
Expansion of the annual circulation levy on vehicles during importation and registration.
Higher demurrage charges, reduced storage-free periods at ports, and stronger provisions for digital taxation.
During an extended debate, Members of Parliament from both the ruling and opposition parties underscored the need for more effective tax administration as government seeks to boost domestic revenue.
While acknowledging the importance of the proposed measures, MPs urged the government to strengthen public financial management, curb wastage, tackle corruption, and improve service delivery to ensure the reforms benefit the most vulnerable citizens.
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