Yaoundé - 22 October 2019 -

Cameroon to increase taxes on products harmful to health, morality and environment

Cameroon to increase taxes on products harmful to health, morality and environment
  • Comments   -   Friday, 12 July 2019 11:41

(Business in Cameroon) - Cameroon recently submitted its fiscal stance before the parliament in preparation for the 2020 finance law. According to this stance, in 2020, the tax on some products could rise.

The stance indicates that in the short term, 2020 particularly, the country will anchor excise duties on CEMAC’s new rules on excise duties’ harmonization. It will also boost customs revenues’ mobilization increasing excise duties on products (tobacco, alcohol, hydroquinone, industrial waste, cars, motorbikes and finished goods with high sugar percentage) that are harmful to health, morality and the environment.

There will also be a gradual restoration of duties on tax-free products such as rice, wheat and fish. Part of the revenues generated by these taxes will then be affected to a fund in charge of these sectors’ development locally. Because of the suspension of these taxes, the government loses substantial resources yearly, the stance explains.

For instance, Cameroon loses close to XAF15 billion yearly because of wheat tax allowances. The 5% tax on rice and fish instead of the normal 20% leads to XAF28 billion and XAF16 billion yearly losses respectively.

Sylvain Andzongo

On October 23, Homebiogas, an Israelian renewable energies company, will hand a biogas production kit to Nkol-Eton College in Yaoundé, Cameroon, the...
Today October 21, 2019, a delegation of French chocolate maker Puratos was in Ntui, in the Central region, Cameroonian Minister of commerce Luc Magloire...
During an interview, on October 21, 2019, Achille Nestor Basahag, director of accounting at the Cameroonian ministry of finance, revealed that in the...
In Cameroon, more than XAF3,500 billion ($5.9 billion) will be needed to reconstruct the Anglophone regions, Jacques Fame Ndongo (photo), the ruling...

Mags frontpage

Business in Cameroon n80: October 2019

Agribusiness: Brazil ready to show Cameroon the way to higher spheres

Reviewing the state of things in the North and Far North

Investir au Cameroun n90: Octobre 2019

Le coût faramineux de la « crise anglophone »

Décollage réussi pour la Transahélienne de Camair-Co