AYV News, March 20, 2025
The Financial Secretary at the Ministry of Finance, Matthew Dingie, has assured the public that despite fluctuations in revenue streams, Sierra Leone is performing well in meeting its revenue generation targets.
He noted that in 2024, the country successfully achieved 99% of its revenue target. However, a slight drop was observed in early 2025 due to over 2,000 Electronic Cash Register (ECR) machines being out of use, which impacted revenue collection.
Dingie explained that many businesses were reluctant to use the ECR machines, leading to revenue losses. He urged the public to request NRA-issued receipts for all purchases and payments, emphasizing that tax compliance is a civic responsibility.
Following engagements between the NRA and the service provider, all ECR machines have now been reactivated, and revenue collection is expected to improve significantly by the end of March 2025.
Matthew Dingie announced a major economic achievement: inflation has dropped from 54.3% in July 2023 to 13.8% in February 2025, representing a reduction of over 30%.
Commissioner General of the National Revenue Authority, Jeneba K. Bangura, provided an overview of the country’s revenue growth from 2022 to 2024. She reported that revenue collection had increased significantly: 2022: NLe7.1 billion, 2023: NLe10.1 billion, 2024: NLe14.5 billion and 2025 Target: NLe18.9 billion.
Mrs. Bangura attributed this steady improvement to the NRA’s strong commitment to implementing financial reforms aimed at making revenue generation more predictable.
To curb tax evasion and improve compliance, Mrs. Bangura outlined several key measures introduced by the NRA: Fuel Marking System: Focused on concessions granted to mining companies, which previously paid little or no tax on fuel but were reselling it for profit. The new system will prevent this abuse; Tax Stamps on Beverages: A tax stamp is now required on all alcoholic and non-alcoholic beverages, both locally produced and imported. Citizens are encouraged to check for tax stamps on drinks and report any missing stamps; ‘CHECK AM’ Mobile App: A newly launched app available on the Play Store, enabling consumers to verify the authenticity of tax stamps on beverages; and ENSOFT System: A digital platform integrated with telecommunications companies to provide real-time data, enhancing Goods and Services Tax (GST) collection from Mobile Network Operators (MNOs).
Mrs. Bangura revealed that the NRA has implemented 21 internal and external measures to strengthen revenue generation. She joined the Financial Secretary in urging citizens to support the NRA by collecting their GST receipts as part of their civic duty.
