The Prime Minister of Cameroon, Joseph Dion Ngute, signed a decree relating to the management of stamp duties and other fiscal values. Decree No 2019/2652/PM of August 5, 2019 introduces a new medium for selling fiscal stamps in Cameroon. Electronic stamp duty (fiscal stamps) will soon be sold online in Cameroon. Article 18 of the decree states that the collection of stamp duties can be done through an online sales mechanism.
However, the decree did not outline modalities on how the transaction will take place online. It rather states that the modalities for payment, deposit and accounting for stamp duties sold online will be defined later.
The tax administration in Cameroon has been going through reforms that will enable them adapt to technological innovations. They aim at using these changes to
- Encourage tax compliance by providing customized and high quality services
- Innovate the tax administration and its procedures to meet up with these changes
- Limit displacement cost of taxpayers to tax offices
- To secure and enhance tax revenue collection and
- To ensure that taxpayers fulfill their obligations in a cost-effective and timely manner
The digitization of the tax system in Cameroon started way back in the 2014 Finance law which put in place a payment mechanism using mobile phones. It is now possible for taxpayers to download their tax clearance certificates online. Earlier this year, it was declared that taxpayers can start filing in their statistics and tax returns using an online tax declaration form. It should also be noted that you can verify the existence of a business online by checking the validity of the tax clearance certificate.
See also How to declare your income tax in Cameroon
Before the new addition, stamp duties have been managed in Cameroon using the following methods:
- Withholding at source
- Affixing stamp duties using machines and
- Direct sales by persons authorized to do so
The decree also puts in place modalities to manage stamp duties using the above methods. You can download Decree No 2019/2652/PM.
List your Products or Services on Nexus Listings – a free product/service listings in Cameroon
Image Credit: Stamps-Africa.com
One thought on “Cameroon: Fiscal stamps to be sold online”