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8.1.2. Other Taxes

The following table provides an overview of other taxes that may be imposed on a company doing business in the country.

Tax Type Rate(s) Notes
Capital Duty NA NA
Payroll Tax GMD 10,000/ 40,000 based on the nationality of the employees The employer is required to withhold wages tax under the Pay-As-You-Earn (PAYE) system from the salaries of the employees. There is a payroll tax levied on the employers who employ non-Gambian nationals. The annual tax is GMD 40,000 for every non-Economic Community of West African States (ECOWAS) employee and GMD 10,000 for every ECOWAS employee. The tax paid is not deductible and cannot be set off against any other taxes in the Gambia.
Social Security Employer Contribution 1%- 25% Employers that are members of the National Provident Fund scheme are required to contribute 10% of employee’s basic salary to the Social Security and Housing Finance Corporation (SSHFC) towards National provident fund. Further, employers are also required to contribute 1% of employee’s gross monthly salary up to a maximum of GMD 15 per employee per month towards the industrial injuries compensation fund, and 25% of an employee’s annual income towards approved retirement fund.
Social Security Employee Contribution 5% The employee is required to contribute 5% of the basic salary towards social security, which is withheld from the salary by the employer.
Stamp Duty Varies depending on the type of transaction Stamp duty is levied on the contracts related to real estate or financial transactions. Rates vary according to the type of transaction involved, such as stamp duty on contracts ranges between 2.5% to 10%.
Transfer Tax NA NA
Property Tax 0.30% It is levied on the assessed value of the property.
Customs Duty/ Excise Duty Varies depending on the type of product It is levied on imports and exports of certain goods. Effective 2019, excise duty for alcoholic beverages has been increased to 75% from 10%. Further, excise duty of 5% will be levied on the CIF value of cement imported from Senegal.
Fringe Benefit Tax 27% (decreased from 35% effective 1 January 2021) The tax is levied on certain specific benefits provided by an employer to its employees, such as housing facility, motor vehicle, loan, debt waiver, medical, etc. It is payable by the employer at 27% (decreased from 35% effective 1 January 2021) of the gross-up taxable value of each benefit.
National Educational Levy 0.75% A National Educational Levy is charged at the rate of 0.75% of annual gross revenue up to a maximum of GMD 100,000.
Residential Rent Tax 8% per annum Income received as rent on residential property is subject to tax at the rate of 8% per annum, and it is payable quarterly.
Commercial Rent Tax 10% per annum Income received as rent on commercial property is subject to tax at the rate of 10% per annum, and it is payable quarterly.
Environmental Tax GMD 1 per employee per month Environmental tax applies at a rate of GMD 1 per employee per month. The environmental tax is repealed effective 1 January 2021.