(Business in Cameroon) - Cameroon is among the 10 African countries where the tax pressure on medium-sized companies is the highest, as revealed by the “Paving Taxes 2017” report published on 17 November by the audit and consultancy firm PricewaterhouseCoopers (PwC) and the World Bank.
In this report, which lists 53 African countries based on the tax pressure on medium-sized companies, Cameroon is ranked 44th, with a tax pressure rate reaching 57.7% of the turnover of said companies. Against 48.8% in the “Paving Taxes 2016” report.
Cameroon shares this status of high tax pressure country with three other countries in the CEMAC zone. These are Chad (63.5%), Equatorial Guinea (79.4%) and the Central African Republic (73.3%).
With a tax rate at only 13.6% of the turnover of the company, Lesotho is the first country in this ranking, followed by Zambia, with an average tax rate of 18.6%. Then come Namibia (20.7%), Mauritius (21.8%), Botswana (25.1%), South Africa (28.8%), South Sudan (29.1%), Seychelles (30.1%) and Sierra Leone (31%).
This ranking by PricewaterhouseCoopers and the World Bank takes into account annual taxes and mandatory contributions paid by medium-sized companies. In practical terms these are the corporate income tax, contributions and social security charges borne by the employer, land property tax, property transfer tax, dividend tax, etc.
Brice R. Mbodiam