Business Tips / Local Tax / Tax / Tax Obligations

Cooperative societies

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Cooperative societies are voluntary associations that promote the economic and social well-being of their members by pooling resources and undertaking collective activities. Key features include democratic control, active member benefit, limited return on capital, and emphasis on education and training. These cooperatives operate across various sectors and can increase bargaining power, improve resource access, and promote sustainable practices. Cooperatives’ structure and benefits are subject to local regulations, such as tax exemptions in Cameroon. Assistance is readily available for those interested in forming or participating in cooperatives.

Business Tips / Local Tax / Tax Obligations

Tax Exemptions for Newly Created Companies and Sole Proprietor Businesses

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Newly created companies and sole proprietor businesses are exempt from a business license tax for their first year of operation, per the General Tax Code. However, they are not exempt from income tax. There are specific provisions allowing flexibility in reporting initial financial statements and calendar considerations for tax payments. Companies must understand these obligations and consult with tax professionals for clarity.

Business Incorporation / Business Tips / Sponsored Content

7 Reasons to Stop Using Someone’s Company to Serve Your Clients

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After reading this, you wont ever use someone’s company to serve your clients.
There are many entrepreneurs without registered businesses out there who have had to offer their services or do supplies using a company that doesn’t belong to them.