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UNDP’s YWEEP seeks youth-led projects in agro-industry, green economy, and digital innovation. Offers training and support. Apply by 19th July 2024. #YouthEmpowerment
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The United Nations Development Programme (UNDP) has launched an exciting opportunity for women-led businesses in Cameroon through the Youth and Women Employment and Empowerment Project (YWEEP). This initiative […]
Cameroon Implements Ban on Importation of Starlink Kits to Safeguard National Security Amidst Ghana’s Approval
Technology startups in Cameroon receive favourable tax incentives to stimulate investment and promote the growth of the digital economy. These include a reduced income tax rate of 5% on interest paid to investors and dividends paid to shareholders, and on movable capital revenue. This strategy is part of the government’s plan to foster entrepreneurship, attract investment, and support the development of the technology sector in the country.
Cameroon offers a tax incentive to encourage investment in technology startups. Any dividends paid to shareholders and income tax on movable capital revenue or investor interest are taxed at a reduced rate of 5%. The government aims to stimulate the growth of the digital economy, entrepreneurship, and attract more investment to the tech sector. Startups and investors should, however, consult tax professionals to understand the eligibility criteria and other associated requirements.
Technology start-ups in Cameroon enjoy a reduced 5% tax rate on income from movable capital revenue, dividends, and interest payments, as part of a government initiative designed to encourage entrepreneurship and technology investment. The aim is to stimulate growth in the digital economy. Start-ups and investors are advised to consult tax professionals to fully understand the scope and conditions of these incentives.
Cameroon’s General Tax Code offers tax advantages and incentives to ICT start-ups registered in approved management centers to foster innovation and support the digital economy. During the incubation phase, start-ups are tax exempt, giving them financial freedom to focus on growth. Technological innovation is encouraged through a 30% income tax credit on associated expenses. During the operational phase, further benefits continue, such as reduced tax rates, exemptions, and preferential rates on capital gains from sales. After five years, start-ups transition to the regular tax system, maintaining their established foundations.
Income tax credit, a government incentive, enables taxpayers to lessen their tax liability. For instance, in Cameroon, start-ups engaging in research and innovation can benefit from a tax credit of up to 30% on their expenses, capped at 100 million CFA francs. This incentive encourages technological advancements, job creation, and overall economic growth.
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