Cameroon: Tax bureau surpasses goal to collect 45 billion FCFA in revenue in first quarter

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Cameroon: Tax bureau surpasses goal to collect 45 billion FCFA in revenue in first quarter

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- Thursday, 21 May 2015 02:40

(Business in Cameroon) - At the end of March 2015, the Tax Directorate of the Cameroonian Ministry of Finance collected 570 billion FCFA in tax revenue above the 525 billion FCFA target.

This achievement is reportedly due to the total number of reforms implemented almost a year ago by the administration. Among these reforms are the creation and installation of multiple tax centres for medium-sized companies (CIME) to support SMEs which represent 85% of Cameroonian companies, the possibility of filing taxes on-line and paying property taxes via cellular phone.

The Cameroon government’s budget for 2015 is balanced at 3.476.6 trillion FCFA, of which 2 trillion FCFA is to be raised by way of customs duties.

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