Executive proposes a decrease of 5% in Corporate taxes

In its 2015 draft Bill submitted for consideration and approval by the Cameroonian parliament since November 25, 2014, the Government proposes, as a major tax measure, a decrease of 5% on the corporate income tax (IS), whose tax would then decrease from 35% of the annual net profit of enterprises, to 30% only.

If this new tax provision is approved by the MPs, Cameroon would have taken a beautiful option to encourage businesses to reinvest much of their earnings in its territory. This provided that the reinvestment is accompanied by a special system of tax incentives.

Thus subjecting members to approve a reduction in the rate of the tax on corporations, the Cameroonian Government wished to respect a commitment to economic operators, in successive editions of the Business Forum (CBF) Cameroon.

It is a platform for exchanges between the Government and the private sector, to identify and remove barriers that are erected on the development of the economy of Cameroon.

As a reminder, in addition to the lowering of the rate of the IS wanted by the Government, the 2015 fiscal year is also the entry into force of the law on incentives Code to private investment in Cameroon.