Gambia Tax Changes for 2021

The Gambia has introduced various tax changes for 2021, which includes the following:

• An increase in the capital gains tax threshold from GMD 18,000 to GMD 24,000;
• A reduction in the fringe benefits tax rate from 35% to 27%;
• The repeal of the environmental tax payable by employees and the air transport levy;
• An increase in the threshold for voluntary VAT registration from GMD 500,000 to GMD 1 million (mandatory registration threshold GMD 2 million from 1 January 2020); and
• The introduction o…