A Strategic Environmental and Social Assessment (SESA) of the mining sector in Sierra Leone was undertaken between 2006 and 2007 in order to support legal and policy reforms and to assist in the country’s economic recovery. The SESA created a platform for dialogue involving all key mining stakeholders including traditionally sidelined interest groups like villagers, civil society organisations and non-governmental organisations. The greatest challenge ahead for Sierra Leone is to maintain capacity development and governance strengthening around the mining sector.
Sierra Leone: Stock of Total External Debt (percentage of GDP) and Debt Service (percentage of exports of goods and services) appears in African Economic Outlook 2009.
Sierra Leone: Real GDP Growth and Per Capita GDP (USD/PPP at current prices) appears in African Economic Outlook 2009.
Sierra Leone: Public Finances (percentage of GDP at current prices) appears in African Economic Outlook 2009.
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Sierra Leone: Current Account (percentage of GDP at current prices) appears in African Economic Outlook 2009.
According to the UN Human Development Report (2007), Sierra Leone remains one of the poorest places in the world. By the end of the 1980s, the country was nearing a state of collapse, following years of poor governance and economic mismanagement under Siaka Stevens’ APC government. The protracted conflict of the 1990s destroyed much of the country’s basic social and economic infrastructure, resulting in entrenched and widespread poverty. While the causes of the war were complex, there does appear to be some consensus that poor governance, rampant corruption and the creation of a socially excluded underclass were responsible for creating the preconditions for war. Diamonds played a crucial role in fuelling the conflict, as the various parties funded their war efforts through mining activities (Maconachie, 2008).
Sierra Leone has four tax agreements in force, as reported in its response to the Peer Review questionnaire, including the multilateral Supplementary Act A/SA, 5/12/18 adopting community rules for the elimination of double taxation with respect to taxes on income, capital and inheritance and the prevention of tax evasion and avoidance within the ECOWAS Member States (the ECOWAS Supplementary Act) concluded with fourteen treaty partners. One of those agreements, the ECOWAS Supplementary Act, complies with the minimum standard.
Sierra Leone has not yet introduced a requirement for the filing of CbC reports, as required under the BEPS Action 13 (CbC reporting) minimum standard.
Sierra Leone has four tax agreements in force, as reported in its response to the Peer Review questionnaire, including the multilateral Supplementary Act A/SA, 5/12/18 adopting community rules for the elimination of double taxation with respect to taxes on income, capital and inheritance and the prevention of tax evasion and avoidance within the ECOWAS Member States (the ECOWAS Supplementary Act) concluded with fourteen treaty partners. One of those agreements, the ECOWAS Supplementary Act, complies with the minimum standard.
Sierra Leone has not yet introduced a requirement for the filing of CbC reports, as required under the BEPS Action 13 (CbC reporting) minimum standard.
Sierra Leone does not yet have legislation in place to implement the BEPS Action 13 minimum standard.
Sierra Leone was first reviewed during the 2018/2019 peer review. This report is supplementary to that previous report (OECD, 2018[2]).
This peer review covers Sierra Leone’s implementation of the BEPS Action 5 transparency framework for the year 2018. The report has four parts, each relating to a key part of the ToR. Each part is discussed in turn. A summary of recommendations is included at the end of this report.
This report is Sierra Leone’s first annual peer review report. Consistent with the agreed methodology this report covers: (i) the domestic legal and administrative framework, (ii) the exchange of information framework as well as (iii) the appropriate use of CbC reports. There is no filing obligation for a CbC report in Sierra Leone yet.