Douala: Tax authorities, business leaders, discuss proposals for 2025 Finance Law.

Taxation, CCIMA authorities, business leaders immortalise meeting

Authorities from the Directorate of Taxation have held discussions with business leaders of the private sector on the draft proposals to be implemented in the 2025 fiscal law.

The series of consultation meetings with tax payers in Douala, which began at the Chamber of Commerce, Industry, Mines, and Crafts, CCIMA, Tuesday, August 27, extended to the Employers Union, GeCAM. 

The consultation addressed challenges encountered in implementing the 2024 Finance Law. It also provided an opportunity for attendees to explore suggestions for reforms. 

Prior to that, business leaders were given the opportunity to submit their inputs, which included proposals aimed at expanding the tax base, securing revenue, and improving the tax system for the coming year.

Speaking to reporters shortly after the meeting, the Director General of Taxation, Roger Meyong Abath, said: "We have taken propositions concerning all the measures which can help our country have more economic growth and more development for the benefit of the population". 

The Chamber of Commerce led by its president, Christopher Eken, came up with 18 proposals of which 11 were retained for scrutiny before submission to the Minister of Finance for validation. 

This was after consultations with enterprises at all levels. The taxation boss, used the opportunity to call on business owners to declare their incomes before the end of the year. 

It should be noted that, rate of personal income tax in Cameroon stands at 14%. To this end, Abath said there is a gap to cover with informal tax payers.

"We are having reforms to completely digitalise income declaration procedures. Citizens have up to November 2024 to declare their incomes," he added. 

Finance minister, Louis Paul Motaze, announced on August 23 announced a further extension for non-professional taxpayers' annual personal income tax IRPP, filing deadline. 

Initially set for June 30, 2024, and first extended to September 1, the deadline was extended with effect of the announcement. The extension aims to give taxpayers more time to fulfill their tax obligations.

Motaze had explained that the high volume of recent tax declarations inspired the decision. He expressed satisfaction with the increasing number of compliant taxpayers. 

However, the minister warned that failing to meet the new deadline will result in penalties as outlined in the Tax Procedures Code.

To assist taxpayers, the Ministry of Finance, established support teams at local tax offices and the General Directorate of Taxes. Online assistance is also available through a toll-free hotline (8200), an online help platform on the General Directorate of Taxes website, and a messaging service (+237 691 881 881) for Cameroonians abroad.

Since 2021, non-professional taxpayers receiving income such as salaries, pensions, annuities, dividends, and rental income have been required to submit an annual income declaration by June 30 each year. 

The requirement, introduced by the 2021 Finance Law signed by President Paul Biya on December 17, 2020, aims to broaden the tax base and ensure greater transparency in income reporting. 

Taxation authorities reiterated in Douala that, without taxes, development plans cannot be driven smoothly. However, business leaders think the development promised through tax cuts does not reflect the reality on ground. 

 

This story was first published in The Guardian Post issue No:3214 of Friday August 30, 2024

 

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