Cameroon: XAF15 bln available to repay companies’ VAT credits, Finance Minister says

Public management

Cameroon: XAF15 bln available to repay companies’ VAT credits, Finance Minister says

Comments

- Friday, 08 May 2020 14:42

(Business in Cameroon) - XAF15 billion is already available for the repayment of VAT credits decided by the government on April 30, the Minister of Finance Louis Paul Motaze (photo) reveals.

This means that the government still needs to raise XAF10 billion for the stated purpose. According to the release signed by Prime Minister Joseph Dion Ngute on April 30, a special envelope of XAF25 billion was to be released “to support companies’ cashflow by clearing VAT credits awaiting reimbursement.”

“The exemptions relating to the visitor's tax, the withholding tax, and the axle tax are already effective. Also, circulars are currently being elaborated to specify the conditions for the implementation of the other business support measures taken by the Head of State,” Minister Paul Motaze adds.

S.A.

Follow @investcameroun

API signs key agreements to boost investor access to economic zones

The Investment Promotion Agency (API) reached two Memorandums of Understanding with the Port Authority of Kribi (PAK) and the Mission for the Development...

Cameroun repays CFA39.8bn debt with new borrowings

On April 17, Cameroon reimbursed CFA39.8 billion on the public securities market of the Central African States Bank (BEAC). Renowned for its solvency...

CEMAC raises CFA4.336tn in 2023 public securities, CFA2.5tn less than WAEMU

In 2023, the six Cemac countries collectively raised CFA4,336.3 billion on the public securities market of the Central African States Bank (Beac),...

Cameroon minister urges african restaurants to unite on geographic indications

Fuh Calistus Gentry, the interim Minister of Mines, Industry, and Technological Development, and Country Director of the African Intellectual Property...