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Cameroon:govt to raise stamp price by CFA500

Cameroon:govt to raise stamp price by CFA500
  • Comments   -   Tuesday, 22 November 2022 02:06

(Business in Cameroon) - The Cameroonian government announced it is increasing the price of stamps for FY2023. The price is going from CFA1,000 currently to CFA1,500, up CFA500, according to the draft of the 2023 finance bill.

The government says this move is aimed at expanding the tax base. In 2005, the price of the ordinary tax stamp was increased from CFA500 to CFA1000. In 2020, other changes were introduced. For example, the State decided to dematerialize the stamping of documents. It is now done exclusively using the stamping machine and as a result, the Ministry of Finance (Minfi) no longer sells mobile stamps. This reform, which was aimed at securing tax revenues, is also part of the measures to facilitate and modernize the collection of taxes.

Let’s recall that stamps are required for the legalization of certain administrative documents, including diplomas, civil status documents, documents required for economic agents, etc.

S.A.

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