Digitalisation - Cameroon prepares more flexible taxation for innovative ICT companies
The Ministry of Finance (Minfi) has just published a note according to which it will opt, in the coming weeks, for the introduction of a proactive tax regime to promote start-ups for innovative companies in the Information and Communication Technologies (ICT) sector.
This tax regime will notably include "exemption from the patent; exemption from all tax charges, including payroll deductions for a period of 3 to 5 years; exemption from VAT on loans granted by credit institutions; exemption from registration fees for leases, real estate transfers and loans granted by non-credit professionals".
These various tax facilities, explains the Minfi, are part of the Cameroonian government's support measures for the benefit of companies impacted by the effects of the coronavirus since March 2020. Indeed, according to a survey of the Inter-Management Group of Cameroon conducted between April and May 2020, 83% of small businesses have been negatively impacted by the coronavirus.
Source : investiraucameroun