The date put in place by the Tax Department in Cameroon to file monthly return is on or before the 15th of the month for the previous month. Failure to file monthly return can be subject to penalties and other punitive measures put in place by the tax authorities. Check out the penalty for carrying out an illegal or prohibited activity in Cameroon.
According to the Tax Law, taxpayers that are up-to-date in terms of filing and payment shall be entered in the active taxpayers’ register. This register can be accessed online by companies and individuals who want to deal with your company. Verify if a taxpayer is in the active taxpayer register.
If the taxpayer fails to file monthly return for a period of three consecutive months, their names shall be automatically removed from the register. This can only be reinserted again after the taxpayer regularizes his or her tax situation.
Once a taxpayer’s name is not in the active taxpayers’ list, they may not be able to carry out import transactions. In this case, you need to be an active taxpayer before you can carry out import activities. Checkout this beginner’s guide to start an import business in Cameroon.
– Make sure you file monthly return on or before the 15th of every month for the previous month.
– Ensure you suspend activities in case you’re not carrying out any. I have seen cases where taxpayers have failed to file monthly return because they say they are not carry out activities. Before you stop filing, make sure you have formally suspended your activities at your tax center.
– Apply for an extension with the chief of your tax center – once you know you won’t be able to file monthly return, make sure you inform the tax administration. This will help the taxpayer avoid the penalty imposed on those who don’t file monthly taxes.
Note should be taken that the extension only allows you more time to file monthly return. It does not cancel out the taxes you owe. Also, failure to file monthly returns after the extension deadline may allow the tax administrator to place on you the same penalty you want to avoid.
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This content has been prepared for information purposes only. It is not intended to provide, and should not be relied on for, tax, accounting or legal advice. You need to consult your own tax, accounting or legal advisors before engaging in any transaction.