Mr. Guy HonoreTchente Managing Director of Conseils Fiscaux Associes and Chair of the Tax and Legal sub-committee of AmCham Cameroon in collaboration with American Chamber of Commerce Cameroon gave a free live on-line presentation via zoom on the 23rd between 9am and 11am.

It was a very engaging and interactive online session with its participants from different companies and Business backgrounds.

During this session, the tax state of individuals, start-ups, franchises , companies and entrepreneurial ventures was discussed.

Working with taxes in Cameroon or understanding tax policies and reviews can be a very technical topic,

the aim of this session organized by AMCHAM CAM was to assist the participants have a concrete

understanding of the basic tax requirements for a smooth and efficient functioning of their businesses.

Also, some of the crucial 2021 Finance Law Reforms were elaborated upon to give participants an insight

into their expectations of the 2021 fiscal year.

Some of the main points raised were:

 

• Implementation of a Proactive tax regime to promote innovative start-ups in the field of ICT, like young entrepreneurs

• The clarification of the VAT territoriality regime on the provision of services in order to preserve the competitiveness of Cameroonian companies,

• The extension of exemption tax regimes to SMEs that are members of approved management centres.

• The exemption from tax audits for companies that show a significant increase in their spontaneous taxes payment , with a view to promote tax compliance and streamlining interventions.

•  Importers of capital goods for the pharmaceutical industry will benefit from a reduction of 5% customs duty or common external tariff and an exemption from VAT tax.

• In supporting the agricultural Sector, breeding and fishing, farmers machineries, devices for horticultural or forestry machinery, a category of agricultural tractors and machinery, and devices for harvesting agricultural products are exempt from all customs duties and taxes. The same is true for machines and apparatus for the preparation of food and feed for animals, milking machines for agriculture and livestock, dairy machines and apparatus, incubators and breeders for poultry farming and fishing boats and ships, etc.

• Establishment of an annual income declaration for all taxpayers who are individual persons such as rents, salaries, fees etc.

For more insight: contacts 237 650661967/ 6506661967 or This email address is being protected from spambots. You need JavaScript enabled to view it.