Tax in Gambia

Who is the tax authority and where do filings live?

Gambia's Gambia Revenue Authority (GRA) under the Ministry of Finance and Economic Affairs administers Gambia's tax system [SC1]. GRA was established under GRA Act 2004. Substantive law: Income and Value Added Tax Act 2012, and successive Finance Acts. Gambia is an ECOWAS, AU, and AfCFTA member.

What is the tax year and when are returns due?

Individual tax year is the calendar year. PAYE withheld monthly. Corporate annual returns due 31 March for prior fiscal year [SC1]. VAT monthly returns. Provisional CIT through quarterly installments.

Who is a Gambian tax resident?

Under Income and VAT Act 2012, an individual is tax resident if (a) ordinarily resident in Gambia, OR (b) physically present 183+ days in tax year [SC2]. Residents taxed on worldwide income.

What are the personal income tax rates?

Progressive PAYE brackets: 0 percent up to GMD 24,000 annually; ascending rates 5/10/15/20/25/30 percent ascending [SC1]. Top 30 percent above GMD 240,000 annually. Personal allowance applies. Social Security contributions 5 percent.

How does Gambia's corporate tax work?

CIT 27 percent flat for resident companies [SC2]. 35 percent for telecoms sector. Withholding on dividends to non-residents 15 percent. Pillar Two not transposed. Tax losses 6 years.

What about VAT?

VAT 15 percent under Income and VAT Act 2012 [SC3]. Zero-rated on exports.

How are cryptoassets taxed?

Central Bank of The Gambia advisory: cryptoassets cautioned [SC2]. Where declared, gains under existing income-tax categories.

What is the treaty network and what are the audit triggers?

Gambia has approximately 4 active double tax treaties [SC4]. MLI not yet ratified. ECOWAS framework. Standard SOL 6 years; extended for fraud.

What are the common penalties and pitfalls for foreigners?

Penalty framework: late filings, failure to file, incorrect declarations [SC5]. Common pitfalls: (1) post-2017 governance-transition framework affecting tax administration progressively; (2) tourism and groundnut-export economy concentration; (3) telecoms elevated 35 percent CIT vs general 27 percent; (4) Pillar Two not transposed; (5) very limited treaty network (4 DTCs); (6) MLI not yet ratified; (7) anglophone tradition; (8) ECOWAS member; (9) AfCFTA member; (10) GMD-denominated tax base; (11) Gambia Investment and Export Promotion Agency (GIEPA) framework with incentivised regimes for qualifying investments.