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Paying Taxes in

Gambia, The

Below is a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as administrative burden in paying taxes and complying with postfiling procedures.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 190 economies. The most recent round of data collection was completed on June 1, 2016 covering for the Paying Taxes indicator calendar year 2015 (January 1, 2015 – December 31, 2015).

Compare Gambia, The to 189 other economies.

Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% of profit) Notes on TTR
Value Added tax 12 190 15% domestic purchases and imports 220.97 not included
Minimum income tax 1 1.5% turnover 26.52
Social security contributions 12 96 10% gross salaries 11.28
Capital gains tax 1 higher of 10% of sale price and 25% of gain capital gains 6.06
National Education Levy 1 between GMD 30,000 and GMD 50,000 depends on turnover (in excess of GMD 5 million) 5.37
Contribution to injuries compensation fund 0 jointly 1% with a max of GMD 15 per month per employee gross salaries 1.04
Fringe benefits tax provided to employees 1 35% benefit 0.39
Property tax 1 0.3% assessed property value 0.29
vehicle tax 1 tonnage of vehicle 0.13
Business Licence Renewal Fee 1 1,000 fixed fee 0.11
Environmental tax 12 GMD 1 per employee per month 0.08
Corporate Income Tax 4 40 31% taxable profit 0.00
Fuel tax 1 included in fuel price 0.00
Stamp duty on contracts 1 2.5%-10% contract value 0.00 small amount
Totals: 49 326 51.3
  • Answer
    Profit tax (% of profit) 6.1
    Labor tax and contributions (% of profit) 12.7
    Other taxes (% of profit) 44.5
    Answer Score
    Postfiling index (0-100) 48.4
    VAT refunds 23.0
    Does VAT/GST exist? Yes
    Frequency of VAT/GST refund submission monthly
    Does a VAT/GST refund process exist per the case study? Yes
    Restrictions on VAT refund process Carry forward for 3 months
    Likelihood of VAT audit Likely
    Time to comply with VAT refund (hours) 38.5 23.0
    Time to obtain a VAT refund (weeks) 25.7 56.5
    Corporate income tax audits 48.6
    Does corporate income tax exist? Yes
    Likelihood of corporate income tax audit Likely
    Time to comply with a corporate income tax audit (hours) 29.5 48.6
    Time to complete a corporate income tax audit (weeks) 11.0 65.6
    Administrative appeal process
    First level administrative appeal authority Commissioner General of the Gambia Revenue Authority
    Is the appeal authority independent? Same Auditor
    Are appeal guidelines accessible to the public? Yes
    Source of appeal guidelines Other
    Is there a legal time limit for the appeal authority to issue a decision on the tax appeal? No
    Legal time limit

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.

The postfiling index is the average of the scores on time to comply with VAT refund, time to obtain a VAT refund, time to comply with a corporate income tax audit and time to complete a corporate income tax audit.

N/A = Not applicable.