Section 8.-Repealed – FL 2006

Section 8 a.-(1) The expenses referred to in Section 7 above equal to or

greater than CFAF 500 000 (five hundred thousand) shall not be deductible when paid in cash.

(2) The following taxes shall also be non-deductible:

– Expenses supported by invoices not bearing a single Identification number on the tax payers card, to the exclusion of invoices submitted by foreign suppliers;

– Expenses relating to remunerations of all kinds paid to liberal professionals exercising in violation of the regulations governing their respective profession.

Section 8 (b) (new).- (1) The cost and remunerations of all types posted in the accounts records by a natural persons or legal entity resident or estab-

lished in Cameroon and linked to transactions with natural persons or legal entities resident or established in a territory or state considered to be a tax haven, shall not be deductible in determining the company tax or income tax of individuals in Cameroon.

(2) However, property and merchandise required for production purchased in their country of production and which have been cleared at the customs, as well as remuneration for services rendered in relation thereto shall be deductible.

(3) Any state or territory wherein the tax on income of a natural person or

legal entity is less than a third of that paid in Cameroon, or any state territory considered not to be cooperative in matters of transparency or exchange of information required for fiscal purposes by international financial organizations shall be considered a tax haven.