News of the 2023 finance law in Cameroon

Taxes, Rates and Before From January 1,2023

déclarations
Computer fee on 0.45% of the CIF value 1% of CIF value
imports
Submission no later than March 15 of transfer pricing
documentation to the Customs Department, including:
- The statement of the participations of the
associated company,
Declaration of This declaration did not - The description of the activities of the associated
transfer pricing exist at customs, just for company and the Cameroonian company,
policy to customs taxes. - A general description of transfer pricing
- A summary statement of transactions made with
related companies (nature, amount, territory of tax
residence, beneficial owners of payments, method
of determining the transfer prices applied)
- Statement of loans or borrowings
- Statement of non-monetary transactions
The rate for companies Reduction of the rate for companies whose turnover is less
Company tax with a turnover of less than 3 billion to 27.5%
than 3 billion was 30.8%
The withholding tax was Companies that import must deduct from their sales a
due on sales to prepayment to be paid back to taxes.
wholesalers and semi- This prepayment is due if and only if the customer buys to
Prepayment on sale wholesalers by resell.
companies that import This prepayment must be present on the invoice given to
the customer.
The rate is 2%, 5% or 10% depending on the tax status of
the client
Automotive stamp 150,000 FCFA per year 200,000 FCFA per year and per machine
duty and per machine
At the same time as the filing of the financial statements on
March 15, a declaration of the beneficial owner must be
made with the filing of supporting documents providing the
following information:
- Birth name and usual name
- First names and pseudonyms
Declaration of the No obligation - Nationality
beneficial owner - Date and place of birth
- Place of residence
- Home Address
- Method of control exercised by the beneficial
owner
- Date on which the person became the beneficial
owner.
To this obligation is added an obligation to keep a register
to be kept for 5 years.
Fine in the event of non-declaration and record keeping:
5,000,000 FCFA, fine of 100,000 FCFA per day of delay if
formal notice to declare received.
Fine for failure to update: 1,000,000 FCFA