Company Tax is levied on profits or revenue of corporate bodies and individuals. In Cameroon, you must pay Company or Corporate Tax from doing business as a:
There are certain things you must do when you are liable to corporate tax in Cameroon:
The fiscal or accounting period in Cameroon follows the normal calendar year – that is January 1 to December 31.
The taxable profit is determined taking into consideration only activities carried within the national borders of Cameroon. It includes the money your business makes from doing business in Cameroon (trading profits), investments and selling of assets above the cost (capital gain).
Section 6 of the General Tax Code of Cameroon states the taxable profit is the net profit determined by all transactions effected by the taxpayer during the period of assessment which is the calendar year (January 1 – December 31).
If your business is registered or based in Cameroon, it pays Corporate Tax on all profits made in Cameroon and abroad.
If it is a foreign company or has a branch in Cameroon, it pays Corporate Tax only on profits from its Cameroon activities.
Contact us using any of the medium below if you need help with Corporate tax.