Tabling the FY 2026 Finance Bill for ratification and approval in Parliament on Wednesday, 26 November 2025, the Minister of Finance, Ahmed Sheku Fantamadi Bangura, explained that the proposals in the Bill are designed to enhance tax efficiency and strengthen compliance efforts, with the goal of boosting domestic revenue mobilisation. He stated that the government aims to raise an additional NLe 2.85 billion equivalent to 1.5% of GDP to ease fiscal pressures.
Minister Bangura stressed that sustainable national growth depends on adequate domestic resource mobilisation to support effective public service delivery. He warned that when a state is unable to provide basic services for its citizens, it risks undermining public trust, weakening state institutions, eroding democratic governance, and stalling economic development.
For these reasons, he said, the Finance Bill 2026 includes measures intended to improve tax administration efficiency, strengthen enforcement, support private-sector growth, and address deep-seated challenges related to poverty, inequality, and vulnerability.
Key measures introduced in the FY 2026 Finance Act include zero import duty on LPG gas and accessories, cooking stoves, solar panels, and other home-system components and parts.
Restoration of excise duty on cement (NLe 10 per 50kg), which had previously been suspended to cushion the impacts of global crises and the COVID-19 pandemic.
Extension of the excise-stamp requirement to imported and locally produced bagged or packaged cement, sugar, fertiliser, and cooking oil in containers.
The Finance Act also increases the rate and expands the scope of the annual circulation levy applied during importation, annual registration, or licensing. It further increases demurrage and storage-free periods and strengthens legal provisions for digital taxation, among other reforms.
Following lengthy debate and several amendments, Members of Parliament from both sides of the aisle emphasized the need for effective and efficient tax administration and management. They urged the government not only to enhance revenue mobilisation but also to demonstrate prudence in public financial management, reduce wastage and corruption, and improve pro-poor service delivery for the people of Sierra Leone.