CIA FactBook records show that in 2018, Gabon exported commodities worth US$11,467 million to countries around the world. Crude oil, one of Gabon’s biggest exports, accounts for 27.15% of the country’s overall trade value, or the US $3,113,509 thousand. Manganese Ores are exported second and make up 2.95% of total exports. The top products that Gabon exports are shown in the table below. Along with the growth rate over the previous five years, the trade value and the percentage share for each export category are also displayed.
All individuals, whether they be legal or natural persons, are authorized to carry out the export and import procedure in Gabon. You must register in the trade register, complete fiscal registration, and acquire a circuit slip to be granted the position of exporter or importer into or out of Gabon. For commercial purposes, it is essential to have a registered trade with the relevant license (if necessary) for the business and to be included in the country’s Trade and Company Register before exporting or importing goods from or to Gabon.
Directorate-general of customs and indirect taxes of Gabon
The governmental body in charge of efficiently collecting sales taxes, carrying out customs regulations, enabling legal trade, and safeguarding society and lawful economic activity is the Directorate-General of Customs and Indirect Taxes of Gabon.
For efficient import and export processes, it’s crucial to understand the proper paperwork. For the business to prevent missing shipments, port demurrage fees, or fines, all export documents must be correctly filled out. The validity of the documents, the veracity of the information included in the documents, and the timeliness with which the documents are submitted and the required Customs Clearance applications are filed all play a role in how efficiently the Customs Clearance process runs.
There are typically three stages to the export procedure in any nation.
- Documentation requirements for exportation.
- The one-time registration process for an export license.
- Procedures for export customs clearance.
Value Added Tax(VAT)
VAT is a total tax imposed on the sale of products and the rendering of services in Gabon.
Four VAT rates are available:
- Standard rate: 18%, which, unless otherwise stated by law, is applied to all transactions.
- 10% off the regular rate is available for cement-related production and sales activities.
- 5%, which only applies to a few enterprises, most notably those that were once VAT-exempt.
- Exports and international transportation are subject to a zero rate of 0%.
Taxable persons are people or legal entities that regularly or infrequently engage in autonomous taxable operations within the parameters of economic activity and for an expensive consideration. The aforementioned individuals, whether registered or not and subject to CIT or personal income tax (PIT), are subject to VAT if their tax-related revenue exceeds XAF 60 million.
Real estate taxes
Real estate-related operations carried out by people subject to VAT in the course of their economic activities, such as sales of lands to be built on, delivery of new buildings, or self-delivery of some constructions, are subject to VAT. The person who constructed the building is the taxpayer for real estate-related VAT. On the day of delivery, the VAT is due.
Formalities for registration must be followed when transferring buildings that are subject to real estate VAT. Real estate VAT is computed based on the sale price agreed upon by the parties or, if higher, the real value of the property. In general, unless explicitly specified as previously noted, VAT payable on the importation of products cannot be paid under the credit-removal scheme.
The special contribution of solidarity (SSC)
Based on similar principles as VAT, SSC is a tax imposed in Gabon on the sale of products and the provision of services supplied or used. The taxpayers (natural and legal persons) engaging in regular or sporadic taxable transactions with an annual turnover, excluding taxes, of at least XAF 30 million are required to invoice the SSC. The procedures for taxing the aforementioned contribution are comparable to those that apply to VAT. The purpose of this payment is to replace the Health Insurance (ROAM) contribution that mobile telecommunications providers were previously required to make duties in customs. The Central African Economic and Monetary Community (CEMAC), a customs union made up of nations from Central Africa, includes Gabon as a member. Importation duties recorded in the Customs Tariff are applied to goods entering the CEMAC customs territory. In Gabon, there are four different customs regimes, including one basic system and three specialized regimes (an exemption regime, a temporary admission regime, and a reduced tax regime).
