Gabon benefits from considerable hydrocarbons reserves, with the World Bank citing Gabon as the fifth-largest oil producer in Africa. Oil accounted for 70% of exports, 20% of GDP, and 40% of budget revenues in 2015. However, declining production and lower oil prices have seen economic growth slow. Diversifying the economy is therefore a priority for the Bongo Ondimba administration, as evidenced b
In conjunction with Deloitte Gabon, OBG explores the taxation system, examining Gabon’s investor-friendly environment. OBG talks to Angela Adibet, Head of Legal and Tax Department, Deloitte Gabon, about the Finance Act of 2016 and the fiscal framework.…
Viewpoint:Angela Adibet Effective since February 1, 2016, new fiscal provisions were established by the Finance Act of 2016. Subject to the provisions of applicable tax treaties, the withholding tax rate on fees paid by Gabonese debtors to non-residents has increased from 10% to 20%. This withholding tax applies to royalties and other payments made for services rendered of any nature utilised…
Since it was passed in May 2009, the new general tax code has been regularly modified through finance bills to provide a modernised framework, notably complemented by tax and Customs incentives for strategic sectors of activity. Among other new tax provisions, the Finance Bill 2011 has created an incentive tax regime that is exclusively relevant to groups of companies with a Gabonese holding company.…
Modifications to the tax code passed in May 2009 have been made in July 2009, February 2010, January 2011, January 2012, January 2013, January 2014 and January 2015 to reflect Gabon’s new political climate. The code is a modernised framework that will likely be complemented by tax and Customs incentives for both foreign and local investors. Along with implementation of the new general tax code and…
Interview: Nicolas Balesme What changes will Gabonese companies need to make, following recent fiscal reforms? NICOLAS BALESME: Gabon’s 2015 Finance Act included fiscal provisions that aim to improve the taxation process. The new provisions specify what new elements are to be taken into account for the tax base, with regards to corporate tax deductibility rules and some regulations regarding control…
Given the decline in oil prices from mid-2014 on, the government’s drive to diversify the economy away from its traditional reliance on hydrocarbons in line with its Emerging Gabon Strategic Plan has taken on greater importance. Drawing on its sizeable timber and mineral reserves, Gabon aims to develop new industries and boost domestic value added with the ultimate goal of achieving emerging mar
This chapter covers the ins and outs of the Gabonese tax system, covering areas of particular interest to investors, including recent changes, corporate income tax, capital gains and dividends, deductions and depreciation, taxes on wages and VAT, among other topics. In addition, it also includes an interview with Nicolas Balesme, Associate, Deloitte Gabon.…
Modifications to the tax code passed in May 2009 have been made in July 2009, February 2010, January 2011, January 2012, January 2013 and January 2014 to reflect Gabon’s new political climate. The code is a modernised framework that will likely be complemented by tax and Customs incentives for both foreign and local investors. Along with implementation of the new general tax code and salaries taxation…
Interview:Nicolas Balesme What provisions have been introduced in the Public Procurement Code (PPC) that refer to cooperation with foreign partners? NICOLAS BALESME: The provisions of the PPC are set forth in Decree No. 0254/PR/MEED, which was issued in June 2012. Excepting the principle of local preference, the code does not include any particular restrictions concerning a partnership or collaboration…
