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Gabon: The authorities want to end tax evasion & income tax

04/01/2022
Categories: Sectors

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In Gabon, the authorities intend to put a stop to the phenomenon this year. It is expected, in particular, the signing of agreements with countries such as Italy, Korea, the United Arab Emirates and South Africa on the prevention of tax evasion in the field of income tax.

Estimated in 2021 at around 441 billion CFA francs, tax evasion is seriously slowing down Gabon's development. Seven years after it signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, and having received firm instructions from the IMF as part of the last loan of August 2021, Gabon is more than ever planning to put a to stop fraud and tax evasion which negatively impacts its development at the time of the materialization of the Transformation Acceleration Plan (PAT).

In 2022, legal safeguards will be erected, particularly with four countries: Italy, Korea, the United Arab Emirates and South Africa. During the last Council of Ministers of 2021, in December, the Gabonese authorities indeed adopted four bills authorizing the ratification of an agreement on the avoidance of double taxation and the prevention of tax evasion with regard to tax on revenue between the government and these four countries.

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