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:
- limited company incorporated in Cameroon
- foreign company with a branch or representative office in Cameroon
- as a sole proprietorship, partnership, etc.
How to Register a Sole Proprietor Business in Cameroon as a Nigerian
There are certain things you must do when you are liable to corporate tax in Cameroon:
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- The corporate body or individual needs to register for a business license when you start or restart activities of a dormant business.
- They have to keep a record of all accounts as required by the Foundation for a Unified Business Law in Africa, FUBLA.
- To pay the monthly advance tax or report if you have nothing to pay before the deadline. The deadline is the 15th of every month.
- The business has to prepare their Company Tax returns to work out how much they have to pay as Corporate Tax.
- To file in your Statistics and Tax Returns, STR, for the previous year before the deadline. The deadline for filing the STR is March 15th yearly.
The fiscal or accounting period in Cameroon follows the normal calendar year – that is January 1 to December 31.
How to Determine Corporate Tax in Cameroon
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.
Explore the topics below
Requirements to Incorporate a Company in Cameroon
Who Pays Company Tax in Cameroon
How to Register a Startup in Cameroon
Important links
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