Gabon published Law 19/2020 of 17 July 2020 in the Official Gazette on 20 July 2020, which provides revised budget measures for 2020 as well as several tax measures that are primarily intended to broaden the tax base and improve administration. Measures include the following:
- The determination of taxable income resulting from the execution of multi-year contracts is changed to be based on the percentage of completion method;
- A 20% amortization rate (over five years) is set for ancillary cost…