When you create an effective plan, you can take steps towards becoming as efficient as your small business can possibly be.
What if you’re caught running an unregistered business in Cameroon?
You can run an unregistered business in Cameroon as long as your business is legal and meets the tax and licensing requirements. Be Careful!
Start preparing for your year-end accounts
As a small business, closing out the fiscal year may help you prepare better for the next one by going through relevant company data to understand the financial state of your business.
You need a unique identification number to do business in Cameroon
Taxpayers are obliged to mention the Unique Identification Number on any document showing any business transaction.
Get your taxpayer identification online with OpenHub Digital
Year-end Accounting – Record All Business Expenses
Whether your business is established or you’re just beginning, tracking your business expense is a necessity.
When tracking your expenses, make sure you separate business expenses from personal expenses.
Separate business expenses from personal
Separating business and personal finances may not be an easy task for first-time business owners who are unfamiliar with the process.
Obligation to file tax returns in Cameroon
In Cameroon, a new business maybe exempted from paying the business license tax for at least one year. This does not stop the business from declaring and paying their income taxes.
Follow-up Unpaid Invoices – Year-end Accounting
It’s very important for you as a business owner to start chasing your unpaid invoices before you close your books for this year.
Year-end Accounting – Put together necessary paperwork
Most business owners juggle their year-end accounting procedures with the heavy sales and traffic they receive during the end of the year.
Get Your Company Registered in 7 Days in Cameroon
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