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VIDEO INTRO
Hello every one my name is DR Mbunkur your business doctor and you are welcome to the BUSINESS TIPS channel. On this channel I talk about ideas and tips that will help you start a business or move your already existing business to the next level. If you are interested in these topics then smash that subscribe button bellow and also click on the notification bell so that you be the first to be notified whenever I upload new videos. on this video TAX IN CAMEROON. We shall be looking at business license tax in Cameroon or in French the patent and modifications that happened in 2017.
Now in Cameroon before operating any business you need a business license. This business license tax gives you the authorization to operate a business in Cameroon and it’s a local tax which implies you pay this to the local authority in which you operate.
This tax goes a long way to develop that locality in your business is found. Generally the business license tax is referred to as a turn over tax paid at the beginning of every year which means the tax is calculated on the turn over that you declare to the taxation office.. And this is paid on or before the 15th of march each year.
In Cameroon now if you are starting a new company you are entitled to a 1 year exemption from this tax renewable once.
A lot of people really don’t understand how this tax is calculated or arrived at. A lot of business people or entrepreneurs operating in Cameroon just go to the tax office and anything they are asked they just pay not knowing how it is calculated. But on this video I will show you step by step how to calculate your business tax.
Now before we dive into the details of calculation lets look at the scrope of business licence and what Cameroon tax code says. Just for your reminder the tax code art C8 to art C43 of the GTC. If you don’t know where to get the tax code I have included the link in my description to where you can download this both in English and in French.
Those liable to business license tax include:
All tax payers that are carrying out a commercial or industrial activity and that by-pass the threshold to be classified under the discharge tax system. (Art C8)
All professions not included in the exemptions list
All activities that are cited in the finance law as subject to patent. (Cited in Annex II of GTC).
N.B: Business license is also payable on illegal activities “The administration does not judge legality of activities”
SPECIAL CASES
1. Business License for Transporters
The business license of the transporter does not cover operations carried out by the driver, captain, aids or other crew members.
Shipping companies are not subject to business license unless they are established in Cameroon.
Business license for intercity passenger and goods carriers shall be assessed based on the number of seats or the payload of the vehicle.
2. Insurance Companies
Those that have not established in Cameroon but that are represented are liable only at the head office of the representation.
3. Importations by an Intermediary
Irrespective of whether importation is carried out by a bank, transit agent or any agent, the client whom they represent is liable to business license. In this case the trader is deemed to be an importer and compelled to pay business license at the same rate as traders with transactions more than 15 Million FCFA.
4. Distributions of Petroleum Products
For the distribution of petroleum products by owners of petrol stations, the basis of assessment shall be the margin determined by the marketers.
We shall discuss the calculations or assessment proper in the next episode. Link in the description button below.
Thanks for watching and hey did you already subscribe? If not then hit that button right now.. And if you need more information for your business, anytime any day at HR N SYSTSEMS LTD. Visit our website, like our Facebook page and please drop me a comment below. I am always going to respond to all your comments.
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