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(Mar 17, 2010) On February 5, 2010, Gabon adopted a new Finance Law. It is applicable from the beginning of the year and sets individual income tax rates based on income brackets, as follows:

Annual Taxable Income in CFA

Tax Rate

0 – 1,500,000 (about US$3,047)

0

1,500,001 – 1,920,000 (up to about US$3,900)

5%

1,920,001 – 2,700,000 (up to about US$5,484)

10%

2,700,001 – 3,600,000 (up to about US$7,312)

15%

3,600,001 – 5,160,000 (up to about US$10,480)

20%

5,160,001 – 7,500,000 (up to about US$15,233)

25%

7,500,001 – 11,000,000 (up to about US$22,342)

30%

Over 11,000,000

35%

The maximum amount a family may deduct is CFA20,000 (about US$41).

In addition, under the new Law, permanent establishments set up in Gabon by foreign oil sub-contractors are no longer required to maintain local accounts according to accounting rules set by the Organization for the Harmonization of African Business Law. (Albert Atangana, Gabon: Finance Law for 2010 Enacted, TAX NEWS SERVICE, Mar. 10, 2010, subscription newsletter from taxnewsservice@ibfd.org.)

Author: Constance Johnson More by this author
Topic: Taxation More on this topic
Jurisdiction: Gabon More about this jurisdiction

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Last updated: 03/17/2010