When calculating Gabon taxable income, assets owned by an enterprise are normally depreciated over their normal useful life using the straight-line method. The following are the rates for various asset types:
|Tangible fixed assets||5% to 33.33%|
|Intangible assets (excluding goodwill)||20% to 50%|
Effective 1 January 2020, basic mining research costs can be amortized up to 20% per year. Further, an amortization rate of 20% is allowed over a period of 5 years for ancillary costs relating to mining estate (excluding prospecting costs), such as costs incurred for acquisition of land, acquisition of equity security, other fixed assets, and other related expenses.
Effective 1 January 2020, interest expenses incurred on loans taken for the production of a fixed asset are required to be included in the cost of the asset and not recognized as a deductible expense.
Assets cost base is reduced by the amount of any investment allowance granted under a reinvestment program.
Certain assets are eligible for accelerated depreciation.