Today, we will see the various tax payment methods in Cameroon. In two days time, that’s Wednesday, July 15, 2020, it will be the deadline to file your tax return for the month of June 2020. Failure to do it on time may call for a late payment notification and penalty. You can declare your tax online now to avoid getting a penalty.
All taxpayers are required to pay their declared taxes and tax deducted at source on or before the due dates fixed by the law. Let’s first see what tax deducted at source is before we go to the various tax payment methods in Cameroon?
Tax deducted at source is when a company or payer deducts tax on behalf of the tax administration before paying the balance to the payee. The payer (company or individual), is legally liable to collect and pay the tax on behalf of the payer.
The company or person legally liable to deduct and pay the TDS is called a deductor while the person or company receiving the income after deduction is called the deductee. Examples of incomes where TDS is applied include:
In Cameroon, the following tax payment methods are available for taxpayers:
You may be liable to pay a late payment fine if you fail to pay your tax on time. See the post I wrote on what happens when you fail to your tax return on time in Cameroon.
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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.