Small business tax calculator for The Gambia

If you run a business as an individual and your yearly turnover is under D 500,000, your income tax is simply 3% of turnover. It is a final tax and you do not file an annual return.

Above that limit you pay the higher of personal income tax on your profit and a minimum tax on turnover, which this calculator shows.

How it's calculated

Turnover under D 500,000: turnover × 3%, paid quarterly.
Turnover of D 500,000 or more: the minimum tax is 1% of turnover with audited accounts and 2% otherwise. Income tax on your net profit applies if it is higher.

An example

A shop with D400,000 of sales in the year pays D12,000, in four quarterly payments of D3,000.

Frequently asked questions

When are the quarterly payments due?

By the 15th of the month after each quarter. Larger businesses also file an annual return within three months after the end of the tax year.

What if I have no records or fixed place of business?

Small self-employed people without proper records or a permanent place of business fall under the informal sector income tax, a fixed amount a year that depends on the trade.

Is the tax year the calendar year?

Yes, unless the Commissioner General approves a special tax year for your business.

Key terms

Turnover: All the money your business takes in from sales in the year, before costs.
Final tax: A tax that settles your income tax on that business, with no annual return to file.