(Business in Cameroon) - The Cameroonian government has agreed to implement some of the tax reforms suggested by the private sector, in preparation for the 2019 finance act.
To this end, the country’s inter-employers association (Gicam) informs that following its tax reform proposals transmitted May 28 to the Minister of Finance (Minfi), Louis Paul Motaze, the government finally approved 74 reforms from the private sector.
“Of all the proposals on customs, 27 have received a favorable opinion,10 have a reserved opinion and 3 are in prospect, thus an acceptance rate of 73%. In terms of internal taxation, out of 83 reform proposals, 47 received a favorable opinion, 24 received a reserved opinion and 12 are in perspective, thus an admissibility rate of 71%,” Gicam indicates.
The Inter-Employers Group adds that the validated recommendations in customs relate to customs tax bases, the rationalization of customs facilities, the strengthening of the rights and guarantees of taxpayers, the facilitation of trade and the improvement of business environment.
With regard to internal taxation, measures approved concern the improvement of companies' cash flow and competitiveness, the reinforcement of tax fairness and the streamlining of tax procedures.