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Cameroon: A collection mechanism, to collect tax and duties paid in cash, to be set soon in banks

Cameroon: A collection mechanism, to collect tax and duties paid in cash, to be set soon in banks
  • Comments   -   Thursday, 08 February 2018 14:20

(Business in Cameroon) - This year, Cameroon’s general tax directorate wants to set a collection mechanism, in banks, in order to collect tax and duties paid in cash. This was revealed during the annual conference of the ministry of finance’s officials concluded on February 2nd 2018.

Thanks to this measure, the directorate wants to maximize tax collection in a difficult economic context despite which it is required to mobilize CFA1,845 billion (about 60% of Cameroon’s budget).

To meet that objective, the tax directorate is counting on "the improvement of revenues from excise duties on non-returnable packaging (sic), gambling activities and stamp duties at airports; the optimization of revenues from the operationalization of the seven tax centers for medium-sized enterprises; the consolidation of the monitoring scheme for the tax related to the execution of the state budget and consolidation of the collaboration with the other institutions”.

BRM

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