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Finance

Cameroon : Tax and customs revenues reached XAF2,800 bln in 2019 (Provisional figures)

Cameroon : Tax and customs revenues reached XAF2,800 bln in 2019 (Provisional figures)
  • Comments   -   Wednesday, 05 February 2020 16:33

(Business in Cameroon) - In Cameroon, the provisional figure for tax and customs revenues collected during the 2019 fiscal year stands at XAF2,800 billion against a target of XAF2,924 billion. According to the Ministry of Finance, which revealed the information, this is a 95.8% implementation rate.

Taxes and duties collected by the General Tax Directorate reached XAF1,960 billion out of an annual target of XAF2,074 billion, i.e. an achievement rate of 94.5%. In addition, the tax directorate collected a sum of XAF186.3 billion for the benefit of decentralized authorities and public firms.

As far as taxes and duties are concerned, the results obtained are slightly below the target, due to the context which was conducive to the decline in economic activity in sectors with high tax yields. Nevertheless, a series of measures aimed at improving the fiscal environment for business, broadening the tax base and securing revenues made it possible to record such an appreciable performance,” the ministry explains.  

During the period, XAF840 billion of customs revenues was mobilized, corresponding to a 98.8% achievement rate compared to the annual target of XAF850 billion.

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