(Business in Cameroon) - Cameroonian tax authority announced it has collected XAF1,719 billion in revenue between January and November 2018; 90% of whole year target set at XAF1,912 billion.
According to a source authorized at the tax directorate, money recovered in December 2018 has “surely” made possible to reach target or even exceed it.
If the tax authority meets or exceeds these objectives, it will dispel the Cameroonian authorities' fears, who reported at the end of the first quarter 2018 that tax revenues stood at only XAF449.6 billion out of the expected XAF487.6 billion, a deficit of XAF38 billion.
This underperformance, the tax authorities explained, was mainly due to an economic slowdown in 2017, particularly in the brewery and mobile phone sectors.
Until proven otherwise, Cameroon's tax revenues have been steadily increasing in recent years. For example, in 2017 money amounted to XAF1,790.4 billion compared to XAF1,615 billion in 2016.