Minister of Finance Grants Second Extension of Tax Filing Deadline

Businesses in Cameroon have been granted a second extension on the deadline for filing taxes for the 2022 fiscal year.

The Minister of Finance has granted a moratorium to extend the deadline to April 30, 2023. This exceptional extension is intended to support taxpayers learn how to file records from paper to digital or electronic form.

The Director General for Taxes made this announcement on April 5, 2023, calling on taxpayers to take advantage of the extra time to make appropriate adjustments.

This is especially important for those who have already submitted their Statistical and Tax Returns (STR), as they may need to make changes to avoid penalties for non-compliance with legislation.

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It should be noted that this is the second extension granted to taxpayers. The first extension, which ran until March 27, 2023, was granted to allow businesses more time to prepare their tax returns for submission.

This latest extension provides additional time for businesses to make the transition to digital records and ensure compliance with tax legislation.

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Businesses in Cameroon are required to file their tax returns on or before March 15 for the previous financial year. The financial or fiscal year in Cameroon is the same as the calendar year.

It is important for businesses to be aware of this deadline and to file their tax returns in a timely manner to avoid penalties.

Overall, the deadline for the extension of filing taxes is a welcome relief for businesses in Cameroon. It provides additional time to adjust to new record-keeping requirements and ensure compliance with tax legislation.

Business owners and tax professionals should take advantage of this extension and use the extra time to ensure that their tax returns are accurate and complete.