logoBC
Yaoundé - 15 August 2022 -
Economy

Cameroon extends tax base to the e-commerce sector

Cameroon extends tax base to the e-commerce sector
  • Comments   -   Monday, 06 January 2020 12:44

(Business in Cameroon) - In Cameroon, the government has decided to apply value-added tax (VAT) in the e-commerce sector for the 2020 fiscal year.

In detail, the Ministry of Finance (Minfi) indicates, goods and services sold on Cameroonian territory through e-commerce platforms, as well as related commissions, are now subjected to VAT.

In addition, the finance law provides for the VAT liability of e-commerce platforms, implying the obligation for them to liquidate, declare and pay VAT on digital transactions made by Cameroonian consumers. This law provides for the implementation of simplified modalities for the online registration, collection, and remittance of VAT for these platforms.

According to tax specialists, the application of VAT on e-commerce in Cameroon will not be easy, as the collection is difficult even in developed countries such as France. Indeed, a report consulted in December 2019, by the French newspaper Les Echos shows that 98% of sellers registered on the marketplaces of e-commerce sites (Amazon, Cdiscount) are not registered for VAT in France.

During an administrative check, only 538 out of 24,459 sellers were found to be in order. This figure is all the more worrying as these ‘marketplaces’ have grown considerably in recent years. Amazon now accounts for 58% of its business, compared with 3% twenty years ago. At Cdiscount, this share would be between 30% and 40%,” Les Echos indicated.

Sylvain Andzongo

euro-dollar-fluctuation-raised-cameroon-s-debt-by-cfa420bn-in-one-year
Recent fluctuations between the euro and the U.S. dollar have increased Cameroon's debt by CFA420 billion (+11.2%) between June 2021 and June 2022. Data...
e-guinean-bange-bank-to-get-listed-on-the-bvmac-first-bank-to-join
Guinean Bange Bank is preparing its listing on the regional stock exchange Bvmac. Louis Banga, MD of the stock market, met on August 9 in this regard with...
cameroon-beac-forecasts-brewing-profit-to-fall-in-q3-2022
The Bank of Central African States Beac forecasts the brewing industry in Cameroon to experience a sharp decline in Q3 2022. In its bulletin, the...
cameroon-fuel-subsidies-could-finally-exceed-cfa780-billion-in-2022
The Cameroonian government announced it will approve CFA780 billion in fuel subsidy to keep pump prices unchanged in this harsh period marked by rising...

Mags frontpage


Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer


Albert Zeufack: “Today, the most important market is in Asia”


Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir


Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »