Let’s see the Unique Identification Number which is part three of the series to what steps to follow after your have registered your business in Cameroon.
Below are the previous parts of the series in case this is the first time you’re seeing it or you may want to read again.
The Taxpayer Identification Number or Unique Identification Number (UIN) is an identification number used by the tax authorities in the administration of tax laws (to identify taxpayers).
The Unique Identification Number is alphanumeric made up of two letters (one in the beginning and the other at the end) and 12 digits, formatted like this – A012345678910Z.
Taxpayers are obliged to mention the Unique Identification Number on any document showing any business transaction. Both private and public corporate bodies are required to present when any payment is being carried out.
As a legal or natural person, you may not be able to carry out any of the below transactions unless you have your UIN:
Anyone who fraudulently uses the Unique Identification Number is liable to a fine of up to XAF1,000,000 (one million francs CFA) on each business transaction.
If you fail to include the UIN on an invoice, in case you are liable for VAT, it will lead to a non-deduction of the VAT of that invoice. The Unique Identification Number is attributed on a permanent basis after the effective location of the taxpayer is known.
In the case of a legal business, the Unique Identification Number is issued only after the taxpayer must have filed an application to incorporate or register a business.
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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.