The Impacts of Incremental Tax Rates on the Sustainability and Growth Possibilities for Small and Medium Enterprises (SMEs) in Sierra Leone

This study investigated the challenges confronting small and medium-sized enterprises (SMEs) in Western Sierra Leone, with a particular focus on the impacts of rising tax rates. These increasing tax burdens restrict investment opportunities and impede growth, resulting in cash flow issues that jeopardize the sustainability of many SMEs. Employing a qualitative methodology, the research involved in-depth interviews and structured surveys with SME owners, representatives, and officials from the National Revenue Authority (NRA). The findings indicated that escalating tax rates, along with other issues such as corruption and political connections, significantly hindered SMEs growth, underscoring critical implications for their development.