Taxation Services in The Gambia, with DT Associates


Taxation Services

We deliver a full range of tax services that help minimize the effect of the many taxes our clients face. We give our clients peace of mind as we help them comply with local tax regulations wherever they operate. When disputes arise with the tax authorities, we are there to help deal effectively with the issue.

Under the Tax Services Function, our core service lines include:

  • Tax Advisory and compliance
  • Tax Due diligence
  • Tax Health checks and
  • Other special assignments (i.e. tax audits)

 

Our tax unit has over the years supported clients across various industries on a wide range of tax related matters related to one or more core service lines. Other sub service lines are embedded in our core services as highlighted.

 

Tax Ad  Advisory and Compliance

  • Preparation, review and filing of monthly PAYE (Pay-As-You-Earn).
  •  Preparation, review and filing of monthly VAT (Value Added Tax)
  • Analyze data and prepare advance Corporate Income Tax (CIT) computation
  • Prepare Advance Corporate Income Tax Return
  •  Review and file Advance Corporate Income Tax Return
  • Prepare workings for local statutory accounts tax disclosures
  • Compute and file quarterly and annual FBT (Fringe Benefit Tax)
  •  Handle all queries from the GRA on behalf of our clients
  •  Administer all other applicable taxes
  • Formulate internal policies that accelerates growth through tailor made tax solutions.

 

Tax Due Diligence

  •  Reviewing company tax positions for proposed mergers and acquisitions.
  • Reviewing and analyzing any tax planning schedule.
  •  Identifying the main tax risk

Tax Health Checks

  •  Performing thorough examination of companys operations in line with applicable taxes.
  •  Evaluating the companies level of tax compliance.
  •  Review and analysis of any tax planning schemes for compliance.
  •  Exposure gap analysis and recommendations

 

Other Special Assignments (Tax Audits)

Review of recent tax audit performed by the Tax Authorities including main adjustments proposed, status of tax report, identification of potential future tax liabilities and accrual policy in the group’s accounts.

 

 Quick Highlights

As first point of contact for Investors willing to invest in The Gambia, Our Tax Consultants equip you with all the prerequisite information for investment in The Gambia. Not only do we stop at furnishing you with every information necessary for investment but guide and assist you through the entire process from incorporation to actual commencement of operations. One of the many reasons for our leading position in the practice industry.

 Latest Tax Laws applicable for the Year of Assessment 2018 (Fiscal Policies).

  •  CIT Rate stands at the higher of 1.5% (Minimum Chargeable Basis) for Audited Companies and 30% (Profit Basis).
  • Fringe Benefit Tax Rate stands at 30%.
  • PAYE follows a Progressive system with earnings in excess of GMD58,000 taxed at 30%.
  • Value Added Tax remains at 15% Standard Rate.
  • Capital Gains Tax attracts tax on the higher of 5% of Consideration and 15% of Net Gains for Individuals and for Companies, it is computed based on the higher of 10% of Consideration and 25% of Net Gains.
  • Environmental Tax of GMD1 is payable by every individual in employment.

 Monetary Policies

  • The current Monetary Policy Rate is 20%
  • Consumer Price Inflation measured by the National Consumer Price Index stood at 8.7% as of March 2017.
  •  In 2016, real GDP growth was estimated at 2.2%.

 Other Relevant Facts

 According to the World Bank Doing Business 2017, The Gambia sits at 145th position out of 190 countries in Ease of Doing Business Ranking and improved on the DTF score (Distance To Frontier) to 51.70.

 

 
Tax Consultants Contact Information
Mr. Sulayman Jobe
email:sjobe@dtassociategm.com
 

 

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Contact Us

DT Associates - The Gambia

Address: 1 Paradise Beach Place

Bertil Harding Highway, Kololi

P.O. Box 268 Banjul

Tel: +220 446 5800

Fax: +220 446 5900

Email: info@dtassociatesgm.com