logoBC
Yaoundé - 13 June 2021 -
Public management

Cameroon: Interests on mortgages and house sales exonerated from VAT from 2016

Cameroon: Interests on mortgages and house sales exonerated from VAT from 2016
  • Comments   -   Friday, 18 December 2015 06:54

(Business in Cameroon) - In its 2016 Finance bill, the Cameroonian government is considering facilitating access to housing through tax incentives. It therefore proposes, starting form 2016, to exonerate from VAT interests on mortgages and transactions on social housing.

This measure aims to encourage individuals and economic operators to get into social housing, by scrapping from the cost structure some tax elements which have often discouraged potential buyers or real estate operators. The end game being to lower costs and make social housing more affordable in Cameroon.

As a reminder, with a population of over 22 million inhabitants, Cameroon is currently facing a deficit in social housing officially estimated at about 1,3 million units. A project for the construction of 10,000 social dwellings was launched 5 years ago, but only 20% have been completed so far.

bdeac-exceeded-budgetary-forecasts-in-2020-with-xaf9-8-bln-net-profit-administrative-board
Despite the coronavirus pandemic, the Development Bank of Central African States (BDEAC) recorded a XAF9.8 billion net profit in 2020. This was...
cameroon-suspends-a-mining-license-in-the-east-after-the-may-30-2021-deadly-incident-in-kambele
On June 4, 2021, the Cameroonian Minister of Mines Gabriel Dodo Ndocké issued a decision suspending the artisanal mining permit issued for a site in...
bertoua-inflation-reaches-its-highest-in-10-years-as-prices-surged-4-7-in-q1-2021
In Q1-2021, Bertoua is the Cameroonian city that recorded the highest inflation, the National Institute of Statistics (INS) reveals. “On the spatial...
civil-service-banks-and-public-officials-meet-to-discuss-the-various-problems-facing-the-salary-processing-chain
In late May 2021, in Yaoundé, an awareness, discussion, and training workshop were organized to discuss the problems encountered concerning the processing...

Mags frontpage


Business in Cameroon n100: May 2021

These Cameroonian startups raise billions


Agro-industry and land rights


Investir au Cameroun n110: Mai 2021

Ces start-ups camerounaises qui lèvent des milliards


Agro-industrie et droits fonciers

  1. Most read 7 days
  2. shared 1 month
  3. read 1 month
next
prev