Gambia, The

Paying Taxes in

Gambia, The

Listed 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 measures of administrative burden in paying taxes.

The information appearing on this page 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 183 economies. The most recent round of data collection for the project was completed in December 2010.

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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
Minimum income tax 1 final payment 1.5% turnover 26.5
social security contributions 12 96 10.0% gross salaries 11.3
National Education Levy 1 between GMD 30,000 and GMD 50,000 depends on turnover (in excess of GMD 5 million) 10.1
Capital gains tax 1 higher of 10% of sale price of 25% of gain 6.1
Municipal business license 1 varies by industry 6
Contribution to injuries compensation fund 0 paid jointly 1% (with a max of GMD 15 per month per employee) gross salaries 1.1
Fringe benefits tax provided to employees 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 GMD 1 per employee per month 0.1
Business registration 1 fixed fee 0.1
Corporate Income Tax 4 advance payments 40 33.0% taxable income 0
stamp duty on contracts 1 2.5%-10% contract value small amount
Totals: 50 376 283.5
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