Cameroon tax legislation has been a function of the UDEAC LEGISLATION (UDEAC being The Central African Customs Union) and for some time now, been guided by the tax code on import/export products which protects the home industry. This code reflects a higher tax on importation than exportation which has been a strategy of encouraging the latter rather than the former. This however, has been a remarkable effect on the current balance of payment; and the tendency now is that the government is trying to increase the tax base and at the same time, reducing the tax rate. For example, there's the imposition of new taxes on timber and remarkably on real estate property while the poll tax has been completely abolished.

Inflation which is another aspect of taxation was highly increased after the devaluation of the Franc CFA in January 1994; but the tendency has been to stabilize and reduce this to a minimum of between 3% - 5%. There has also been a slight increase in Consumer price index in the economic capital and Cameroon in general. This has been done by GICAM (Groupement lnter-patronal du Cameroun) A Cameroon Business Men Association made up of all managing directors and CEOs.

To view the major highlights of the key changes introduced by the 1997/98 Finance Law, see the other Cabinet Nico Halle pages covering:

  • Changes to the General Tax Code,
  • Levies on the Tax Legislation,
  • Turnover Tax,
  • Tax Credits,
  • Stamp Duty and Registration Taxes, and
  • Miscellaneous Changes.

NOTE: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought for specifics.

For further information contact Mr Nico Halle, Tel: +237 42 64 79 or Fax: +237 43 26 34 or enter text search 'Nico Halle Law Firm' and 'Mondaq Business Briefing'.