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Yaoundé - 25 May 2019 -
Taxation

Cameroon: Non-oil revenues showed XAF150bln drop from forecasts in Q1 2019

Cameroon: Non-oil revenues showed XAF150bln drop from forecasts in Q1 2019
  • Comments   -   Wednesday, 08 May 2019 13:29

(Business in Cameroon) - Cameroon’s non-oil revenues as at March 31 this year stood at XAF649.1 billion, down XAF150.1 billion compared to the XAF799.2 billion quarterly forecast. This reflects an execution rate of 81.2%.

According to the ministry of finance, tax and duty revenues in Q1 2019 were XAF82.6 billion lower than the XAF543 billion expected. But monies grew by XAF12 billion (2.7%) to XAF461.3 billion compared to XAF449.3 billion in Q1 2018.

Compared to what was expected, Personal Income Tax (PIT) reached XAF78.5 billion, up XAF14.9 billion and reflects an execution rate of 126%; value added tax slipped by XAF14.1 billion (executed at 64.5%); non-oil corporate tax grew XAF17.3 billion to XAF141.9 billion for an execution rate of 102.2%; excise duties as well as registration fees and stamp duties fell by 3 billion and 9.5 billion, with implementation rates of 79% and 90% respectively; oil products tax (TSPP) rose by 0.2 billion to 32 billion, an implementation rate of 99%.

Customs revenues reached XAF153.9 billion in Q1 2019, down XAF56.5 billion compared to the XAF210 billion expected, an implementation rate of 74.3%. Compared to the XAF148.5 billion in Q1 2018, these revenues are up 5.4 billion (+3.6%).

Customs duties stabilized at XAF66.4 billion and import VAT fell by 4.7 billion compared to forecasts. Non-tax revenues fell by XAF5.8 billion (-14.6%) at an annual rate to XAF3.9 billion at the end of March 2019. Compared to the XAF45 billion quarterly forecasts, they are down XAF1.1 billion, a 75.3% implementation rate.

S.A

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