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Yaoundé - 22 August 2018 -
Taxation

  Cameroon grants tax and customs exemption to CFA74 billion worth projects in the Hospitality, agroindustry and agroforestry sector

  Cameroon grants tax and customs exemption to CFA74 billion worth projects in the Hospitality, agroindustry and agroforestry sector
  • Comments   -   Wednesday, 08 August 2018 12:57

(Business in Cameroon) - On August 6, 2018, in Yaoundé, the Cameroonian investments promotion center (Agence de Promotion des Investissements du Cameroun -API) signed agreements with some economic operators carrying out projects in the hospitality, agribusiness and agroforestry sectors.

These agreements will enable these operators, willing to invest CFA74 billion in the country, to take advantages of the provisions in the 2013 law on incentives for private investments in Cameroon.

Indeed, this law revised in 2017 grants from 5 to 10 years tax and customs duties exemption to companies launching their activities or already in operation but wishing to extend their activities in the country.

Let's remind that since it entered into force in 2014, the 2013 law on incentives for private investments in Cameroon led to the signature of 157 agreements between Cameroon and various project carriers. The planned investment in the framework of those agreements is estimated at CFA3,424 billion allowing the creation of about 55,000 direct jobs in the country.

Brice R. Mbodiam

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