Tax Rate Overview

Personal Income Tax

Tax Year: Calendar Year

Tax Rate: 10% - 35%, plus 10% additional council tax.

Individuals resident in Cameroon are taxable on their worldwide income; non residents are taxable only on their Cameroon-source income.

The employer deducts tax on employment income and remits it to the tax authorities before the 15th of each month. However, employers do not deduct personal income tax when the employee earns less than XAF 62,000 per month. Tax on income from an individual's business also is due at the same time. The annual tax return and any balance of tax must be submitted by 15 March of each year.

 

Corporate Tax

Tax Year: Calendar Year

Tax Rate: 38.5% (corporate tax rate of 35% + 10% additional council tax)

Companies listed on the Cameroon national stock exchange benefit from a 30% reduced rate on the corporate tax base.

Advance payments of company taxes are due before the 15th of each month. Any final balance of tax is payable on submission of the annual tax return by the15th March of each year.

 

Consumption Tax

Nature of the Tax: Value Added Tax (VAT)

Tax Rate: 19.25%

Standard rates: The base rate is 18,7%.

Reduced rates: Imports, essential foodstuffs and medical products are exempted of VAT

Filing & payment: VAT returns, and any tax payable, are due by the 15th of each month. Late payment incurs interest penalties at a rate of 1.5% per month, up to a maximum of 50% of the principal liability.

Exports are zero VAT rated. An excise duty to the rate of 25% is applicable to the cigarettes, drinks, cosmetics or products known as of luxury: jewels, precious stones.

VAT is levied on the supply of goods; the provision of services; the import of goods; real estate activities; construction and delivery of buildings by real estate professionals; the sale of second-hand goods and equipment by professionals; transfers of non-exempt assets; and the leasing of underdeveloped land and unfurnished premises by real estate professionals.

 

Income Tax

(The Cameroonian concept of income taxation)

Fiscal year: The fiscal year begins on July 1st and ends on June 30th of the next year      

Income tax rate: Cameroonian residents are taxed on their incomes perceived in Cameroon and abroad, the nonresidents are imposed only on their original Cameroonian incomes,

People are considered as residents if they stay more than 183 days in the country and if their main residence is in Cameroon.

Income tax rate schedule 2004:

Income Tax schedule 2004

Rate

From 0  to 2 000 000

10% 

From 2 000 001 to 3 000 000

15 % 

From 3 000 000  to 5 000 000

25%

Over  5 000 000

35% 

 

 

Other Important Taxes

Name of tax

Rate

Tax on oil production sale  

120 FCFA / LITER  

Rights of recording  

1% to 15%  

Housing contribution  

2,5% for employers and 1% for employees  

Tax on loans  

20%  

Resources:

Link: International tax Cameroon Highlights 2012

Link: Income Taxation