Global Expansion Updates

AFRICA

Gabon

Obligation of country-by-country report and transfer pricing regulations

Recently, the Republic of Gabon has introduced an obligation to file a Country-by-Country report (CbC report) and transfer pricing documents from 1 January 2017.

Parent and ultimate parent companies whose consolidated annual turnover (excluding tax) is greater than or equal to CFA 491,967,750,000 for the fiscal years beginning on or after 1 January 2017 are required to file a CbC report within 12 months after the end of the fiscal year. Non-compliance of the same can attract penalty equal to 0.5% of consolidated turnover excluding taxes, maximum to CFA Franc 100 million per fiscal year.