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Cameroon: Over 1,500 graduates found their first jobs thanks to a tax regime promoting youth employment

Cameroon: Over 1,500 graduates found their first jobs thanks to a tax regime promoting youth employment
  • Comments   -   Thursday, 16 July 2020 15:05

(Business in Cameroon) - Since its creation in 2016, the tax regime for the promotion of youth employment has helped over 1,500 young graduates find their first jobs according to the 2021-2023 Budget Orientation Document (DOB).

This regime, the DOB explains, consists of exempting companies that recruit under-35 graduates from all wage and employer-related deductions except for social security contributions. Initially scheduled to last 3 years, until 2019, this regime was renewed and made permanent by the 2020 Finance Act.

To benefit from these exemptions, companies must submit a list of persons recruited since January 1, 2017, to their local tax office. Only employment contracts are eligible for this scheme. Therefore, labour leasing contracts are excluded. The reason for their exclusion is that since it is a contract by which a specialized company provides labourers to another in return for compensation, such service can be considered as a commercial contract.

S.A.

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