logoBC
Yaoundé - 29 March 2024 -
Taxation

Cameroon: for the first time, penalties for non-payment of property tax will be effective after 30 September 2017

Cameroon: for the first time, penalties for non-payment of property tax will be effective after 30 September 2017
  • Comments   -   Monday, 11 September 2017 06:47

(Business in Cameroon) - Real estate owners in Cameroon have less than 30 days to pay their property tax, otherwise they risk penalties, the tax administration is reminding the general public. This reminder is even more important as 2017 will be the first year when penalties on this tax are effectively applied in the country.

Indeed, it was only during the 2015 budget year that the Cameroonian inland revenue administration stepped up the collection of this tax (only in the cities of Yaoundé and Douala), previously neglected by many taxpayers.

In 2016, to encourage real estate owners to pay this tax (now generalised throughout the country), the Cameroonian government decreed an amnesty for the previous years, for all taxpayers who would start paying from that year onward.

2017 thus represents the end of this amnesty. Initially scheduled for March 2017, the deadline for the payment of the property tax in Cameroon was pushed to 30 September, to enable most taxpayers to avoid finding them at risk of paying penalties of up to 100% of the amount due.

BRM

eu-pledges-over-cfa12bn-for-entrepreneurship-and-electricity-access-support-in-cameroon
The EU agreed to disburse over CFA12 billion to support growth-driven projects in Cameroon. The two related deals were signed in Yaoundé on March 26...
central-africa-set-for-highest-economic-growth-in-a-decade-amid-inflation-concerns
Growth within the Cemac region is expected to peak at 3.6% this year, according to the estimates of Beac’s Monetary Policy Committee (MPC), which met on...
mtn-cameroon-sees-record-growth-with-cfa325-7bn-revenue-in-2023-amid-market-challenges
MTN Cameroon reported a robust revenue of CFA325.7 billion for 2023. According to data released on the Johannesburg Stock Exchange in South Africa, this...
cameroon-s-customs-enforces-air-cargo-regulations-threatens-fines-for-non-compliance
Edwin Fongod Nuvaga, the Director-General of Customs in Cameroon, has issued a reminder to airlines about their obligations to comply with standard...

Mags frontpage


Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer


Albert Zeufack: “Today, the most important market is in Asia”


Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir


Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »