Individuals or companies that purchase enterprises in difficulty, that is, those that have lost 2/3 of the capital or are being rehabilitated as part of the privatization program of the state can benefit from special incentives.
The purchaser needs to address to the Director of taxes his rehabilitation plan showing the objectives to be attained and sources of finance. The company also needs to keep proper books of account in order to benefit from the special incentives.
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'.