The National Revenue Authority (NRA) in Sierra Leone has warned landlords that they may face sanctions in the form of huge fines if they are found guilty of tax evasion.

Leones-Money

The NRA’s domestic tax department cautioned in a statement on Monday that all rental income earners and agents to refrain from failing to pay tax to the Authority.

The NRA has since last week been engaging in a tax retrieval exercise that has seen about half a dozen businesses and public institutions shut down.

The Authority is responsible for generating revenue for the government, and it does so through tax collection.

In the 2016 Budget recently presented to parliament, the target for the taxman was increased further.

In other to meet this, officials have decided to embark on an office-to-office campaign.

Following days of warning, NRA officials last week shut down several businesses for failure to meet their tax obligations.

Timis Corporation, a mining firm owned by the British-Romanian billionaire Frank Timis, and the Airport Authority of Sierra Leone were among institutions closed.

The Authority said the exercise is set to continue.

Landlords and tenants are expected to withhold taxes from rental income at a rate of 10 percent.

Very few are in fact registered with the NRA.

This tax evasion is illegal and warrants a penalty of Le50M ($10, 000) and/or imprisonment of up to five years, a statement on Monday issued by the NRA said