Corporation tax calculator for The Gambia
Companies in The Gambia pay the higher of two amounts: income tax on net profit or a minimum tax on turnover. Enter both figures to see which one applies.
The rate on profit is 27%. The minimum tax is 1% of turnover with audited accounts and 2% otherwise.
How it's calculated
- Tax on profit: net profit × 27% (nothing on a loss).
- Minimum tax: turnover × 1% for audited accounts or 2% for other accounts.
- The company pays whichever is higher.
An example
A company with D5 million of turnover and D800,000 of profit pays D216,000, because 27% of the profit is more than 1% of turnover.
Frequently asked questions
When are returns and payments due?
The annual corporate income tax return is due by 31 March. During the year the company makes quarterly declarations and payments within 15 days after each quarter.
Why does a company with a loss still pay tax?
Because the minimum tax on turnover applies even when there is no profit.
What else does a company pay?
It withholds PAYE from salaries, dividend income tax on the dividends it pays and withholding tax on some contract payments, and pays fringe benefits tax on benefits in kind.
Key terms
- Turnover
- Total sales of the year before any costs.
- Minimum tax
- The floor on income tax, worked out as a share of turnover.
Up-to-date official data
Data checked against the official source on .
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