By Antoine Lawson
In the wake of the austerity measures taken to reduce the lifestyle of the Gabonese state, Budget Minister Jean Fidèle Otandault announced at a press briefing that a 3% tax will be levied on money transfers abroad, in addition to the existing one. From single to double!
Since 2008, a tax of 1.5% on money transfers abroad, is levied for the benefit of the National Fund for health insurance and social security (CNAMGS). The law dated December 17, 2008 stipulates that “the tax on remittances applies to remote transfer operations carried out in Gabon abroad and carried out by any means or technical support leaving trace, including electronically , telegraphic, telex or facsimile.
On the other hand, bank transfers using the systems of the Bank of Central African States (BEAC), initiated in Gabon for one of the member countries of the Central African Monetary Union (UMAC), interbank transfers carried out from the Gabonese territory between credit institutions, financial institutions and financial institutions, in respect of bank operations for own account or third account, are exempt from the payment of this tax.
