Page 353 - Atouts Economiques Cameroun-2019-GB
P. 353

                DIRECT AND INDIRECT TAXATIONS
• General enforcement of value added tax (VAT), ensuring therefore a simplified and neutral indi- rect taxation for the enterprise;
• Enforcement of zero rate of VAT on exported products enabling the reimbursement of the VAT paid on investment and operating expenditures of exporting enterprises;
• The possibility of proceeding to degreessive and accelerated paying offs, and the authoriza- tion to carry forward negative results on subse- quent tax years to improve cash flow of enter- prise;
• Tax exemptions on companies for the first three years of operation.
REGISTRATION
Moderation of registration duties for the creation of enterprises, the increase in capital, the fusion of companies, the movement of shares and social benefits
DUTIES AND TAXES APPLICABLE TO IMPORT
Duties and taxes applicable to imports are divi- ded into four distinct categories:
FIRST CATEGORY
Staple commodities
n Rate=5%;VAT=0% SECOND CATEGORY
Housing property, raw materials
n Rate = 10%; VAT = 9.25% THIRD CATEGORY
Intermediary products
n Rate = 20%; VAT = 19.25% FOUTH CATEGORY
Consumer goods
n Rate = 20%; VAT = 19.25%
For exchanges between member states of the community, there is a General Preferential Rate, which is 0% on plant gate price.
TEMPORARY ADMISSION
Temporary admission (TA) is a suspended system of taxation for a determined maximum period.
NORMAL TEMPORARY ADMISSION
The normal temporary admission system (NTA) consists in suspending the payment of duties
and taxes while using imported material for the execution of state-approved work (privileged sys- tems: procurement contracts and bilateral or mul- tilateral financial agreements).
SPECIAL TEMPORARY ADMISSION
Special temporary admission system (STA) consists in the payment of customs duties and taxes by annuity.
The fraction of duties charged on the imports is assessed according to the link that exists between the duration of utilisation in Cameroon and the duration of booked depreciation under the condi- tions of continuous usage.
Special temporary admission is intended for construction companies that temporarily import pieces of equipment (machines and appliances) as well as transport vehicles, except for spare or rapid wear parts.
DUTIES AND TAXES APPLICABLE TO EXPORT
They are divided into two big categories of pro- ducts, following the criteria below:
RAW PRODUCTS
Cereals
n Exittax=0%;VAT=0%
MANUFACTURED PRODUCTS
n Exittax=2%;VAT=0%
However, for products like coffee, cocoa, cotton banana and medicinal plants, the tax is 15% and VAT is 0%. For rough timber, exit tax is 17.5% and VAT, 0%. Import –export activities are done at cus- toms post. Reporting formats are the following:
n Form D3 for imports
n Form D6 for exports
n Form D8 for re-exportations n Form D 18 for NTA
n Form D 18 for STA
For practical modes of import-export activities, the economic operator has to get in touch with a duly commissioned customs officer.
WAREHOUSES
These are storage facilities created by the cus- toms department to help economic operators to secure their goods during storage. Duties and taxes are postponed in the course of the said period. Existing private warehouses require prior authorization from the Ministry of Economy and Finance.
LES ATOUTS ECONOMIQUES DU CAMEROUN
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