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Cameroon: Non-oil tax revenues shot up by 127.2% over 2010-2019

Cameroon: Non-oil tax revenues shot up by 127.2% over 2010-2019
  • Comments   -   Wednesday, 15 July 2020 14:21

(Business in Cameroon) - Cameroon's internal non-oil tax revenues rose from CFAF 855.7 billion to CFAF 1,944.4 billion over the last ten fiscal years (2010-2019), according to the data recently published by the tax administration. This represents an increase of 127.2% in relative terms and CFAF 1,088.7 billion in absolute terms.

During the period under review, internal non-oil tax revenues were derived mainly from consumption tax (56%), income tax (26%), and wealth tax (10.1%). The increase was mainly spurred by the VAT (38%), corporate tax (18%), excise duties (11%), personal income tax (8%), the special tax on petroleum products (7%), and other taxes and duties (15%).

Tax authorities explain that the increase was realized thanks to the various tax reforms carried out in recent years. However, the administration points out, while the tax reforms carried out in recent years helped maintain a year-on-year upward trend, the forecasts were not achieved, in 2019 particularly, because of the decline of activity in some sectors (brewing, trade, etc.), the drastic fall in taxes paid by the National Refining Company (Sonara) following the fire in this company in May 2019, and the taxation of the state budget.

For the 2019 fiscal year, out of a non-oil tax revenue target of CFAF 2,074 billion, the Directorate General of Taxation (DGI) collected CFAF 1,944.4 billion, a 93.8% implementation rate. Nevertheless, compared to the 2018 non-oil internal tax revenues of CFAF 1,940.9 billion, it is up by CFAF 3.5 billion in absolute terms and +0.2% in relative terms.

S.A.

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