Sierra Leone Business: Petroleum CEO says Africell is resistant to paying tax

Telecommunications companies are expected to pay taxes to the Petroleum Regulatory Agency (PRA) for their storage facilities. The law states that if you have storage of petroleum product in excess of 200 litres you are required to take a license. “They were not paying taxes but I will not blame them, they were obliged to take licenses for storage facilities. This revenue was not budgeted for in 2019 but I want to announce that we have been able to raise Le500 million” said Chief Executive Officer Brima Baluwa Koroma. “Orange has been very compliant, we are running after Africell they are little resistance and Qcell is also another institution.” Presenting their 2020 Budget, the CEO revealed that there is only one importer for Jet A-1 product which he says poses political and security risk coupled with the fact that there are only three petroleum distributors, two importers and one petroleum jetty in the country. The industry has 90 branded gas stations and over 220 resellers nationwide with 50 in the pipeline. Since he took up office he had introduced new industry reforms for major downstream activities and key amongst them has to do with transhipment. CEO Koroma said that there was a lot of frequent export of petroleum product and the country is not producing any product.

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