X hits on this document

701 views

0 shares

0 downloads

0 comments

18 / 188

Cameroon

Nonresidents

Nonresidents must appoint a solvent representative accredited by the tax authority. A bank account in Cameroon is not required.

Application for registration

Any natural person or corporate body liable, as a statutory taxpayer, for payment of a tax, duty or levy or an instalment thereof, by virtue of the provisions of the General Tax Code, must file an application for registration with the competent tax authority of the area, within 15 working days following the start of the activities, and attach to such application a site plan.

Deregistration

In the event of an establishment being closed down as a result of death, a court ruling or petition in bankruptcy or owing to expulsion or expropriation, a business licence shall be due only up to the end of the current month.

Output tax

Prices must be advertised inclusive of VAT. For the calculation of VAT or excise duty, the basis of assessment must be rounded down to the nearest thousand francs.

Exemptions and zero-rating

Exempt supplies

The following transactions are exempt, provided they are subject to specific taxes exclusive of tax on turnover:

  • sale of mining products;

  • real estate transactions of all kinds

carried out by nonprofessionals;

  • interest on external loans;

18

PricewaterhouseCoopers

sales of oil products for refuelling the aircraft of companies that have a registered office in Cameroon;

the social consumption of water of up to 10 m3 per month;

the social consumption of electricity of up to 110kW per month;

the composition, printing, import and sale of newspapers and periodicals, except proceeds from advertising, certain inputs and capital goods for these transactions, acquired by press, newspaper and periodicals companies;

imports of certain exempted goods under the CEMAC customs code;

tests, consultations, health care, hospitalisation, medical and biological analysis and the provision of prostheses in health facilities;

life and health insurance contracts and commissions;

HIV/AIDS control equipment, under certain conditions; and

subject to reciprocity, headquarter agreement and quotas laid down by the competent authorities, all goods and services destined for the official use of foreign diplomatic and consular missions and international organisations.

  • interest on deposits in credit and financial institutions by nonprofessionals;

  • transfer of rights to real estate and transfer of business assets subject to a transfer duty or equivalent duty;

  • international traffic transactions concerning:

    • ships and boats used for industrial or commercial activities on the high seas;

    • lifeboats and assistance boats;

    • aircraft and ships used for maintenance and refuelling operations;

  • certain interstate transit operations and services related thereto, in accordance with the Economic and Monetary Community of Central Africa (CEMAC) Customs Code;

  • the importation or sale by the state of fiscal stamps, postage stamps and stamped papers;

  • sums paid by the Treasury to the Central Bank, which has the currency-issuing privilege, and also the proceeds from the transactions of this Bank in connection with the issue of notes;

  • costs and boarding fees collected by authorised schools and university institutions;

  • essential goods listed under Annexure 1, notably:

    • pesticides, fertilisers and inputs, as well as other agricultural, livestock and fishery inputs used by producers;

Zero-rated supplies

The zero rate shall apply to exports of taxable goods, supplies and services on behalf of enterprises located within industrial free zones and special industrial zones.

small fishing equipment, seeds, agricultural machinery and tools, their inputs and spare parts for plants for manufacturing the said machinery and tools;

Input tax

Input tax allowed

VAT levied for prepayment on a taxable transaction shall be deductible from

Document info
Document views701
Page views701
Page last viewedMon Dec 05 15:11:43 UTC 2016
Pages188
Paragraphs7926
Words87854

Comments