Brief: As promised in my last post, we will dwell on advertising hoardings meaning and how the stamp duty is collected.
I also kept my promise of telling you why printers in Cameroon put their name and number on posters, leaflets and fliers. This is a series I started with 8 council taxes you didn’t know about. I decided to start stamp duty on print advertising because small businesses in Cameroon pay it without knowing.
Before we get to how it’s collected, let’s see what advertising hoarding is all about.
I am sure you must have seen these large boards erected around construction sites that usually feature printed graphics and designs? They are effective for outdoor advertising campaigns. Most of the time, you will find the advert of the entrepreneur carrying out the construction work.
I know you may be wondering why people will put adverts on construction sites. Big construction sites, especially in cities and towns are a source of great attention. Almost everyone passing by will take a look at what is being constructed as well as the progress.
Those adverts you find on buildings, walls, stadiums, etc are also called advertising hoardings. Big companies usually occupy the walls of buildings that are positioned at areas that are visible to the public.
Hoardings can also refer to the advertising panels found on roadsides in towns and on highways when going out of town – such as billboards. In Cameroon, the advertising panels are run by local councils and advertising agencies that have obtained authorization from the Minister of Communication to carry out the activity.
I mentioned above that the firm, individual or advertising agency is supposed to declare before they pay the stamp duty on advertising. In the previous post on stamp duty for posters, leaflets and handbills, I also mentioned that those importing printed materials have to declare before they import. Below are the contents you need to have in your declaration:
Let’s take a break on stamp duty on advertising in Cameroon this week. Take note that we have not yet concluded on this topic. We still have press advertising (newspapers), radio and television advertising, cinema advertising and advertising using intangible devices. We will also see the penalties incurred in case of failure to meet with the legislation put in place.
I am still wondering what I will introduce next week. I may keep you informed in my Saturday 4pm newsletters. If you’ve not yet subscribed for that newsletter, make sure you do so. It’s very rich with information for you to start, run and grow your business in Cameroon.
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This content has been prepared for information purposes only. It is not intended to provide, and should not be relied on for, tax, accounting or legal advice. You need to consult your own tax, accounting or legal advisors before engaging in any transaction.