Paying Taxes in The Gambia

The table below addresses the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year in Gambia, the, as well as measures of administrative burden in paying taxes.

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Tax or mandatory contribution	Payments (number)	Notes on Payments	Time (hours)	Statutory tax rate	Tax base	Total tax rate (% profit)	Notes on TTR
Sales tax	12		240	15.0%	domestic purchases	221
Corporate Income Tax	5		40	35% or 2%	taxable income or turnover	35.4
social security contributions	12		96	10.0%	gross salaries	11.3
National Education Levy	1		-	between 30,000 and 50,000	depends on turnover (in excess of 5 million)	10.1
Capital gains tax	1		-	higher of 10% of sale price of 25% of gain		6.1
Municipal business tax	1		-	varies by industry		6.1
Contribution to injuries compensation fund	0	paid jointly	-	1% (with a max of D15 per month per employee)	gross salaries	1.1
Fringe benefit tax	1		-	35.0%	benefit	0.4
property tax	1		-	0.3%	assessed property value	0.3
fuel tax	1		-		included in fuel price	0.3
vehicle tax	1		-	fixed fee	tonnage of vehicle	0.2
Environmental tax	12		-	D1 per employee per month		0.2
Business license	1		-	fixed fee		0.1
stamp duty on contracts	1		-	2.5%-10%	contract value		small amount
Totals:	50		376			292.4

Notes:
Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.
The hours for VAT include all the VAT and sales taxes applicable.
The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.

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Paying Taxes in The Gambia

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