Cameroon, Czech Republic sign Tax Treaty to boost cooperation.

The tax Treaty was signed on behalf of the government of Cameroon by the Minister of Finance, MINFI, Louis Paul Motaze, while the Czech Republic Ambassador to Cameroon with residence in Abuja, Nigeria, Zdeneck Krejci, signed on behalf of his country.

Aside protecting businesspersons from both countries from double taxation, the Tax Treaty also enables the governments of both countries to prevent tax evasion on the payment of income taxes.

Speaking to reporters in Yaounde after signing the treaty, Finance Minister, Louis Paul Motaze, said the treaty aims to “boost the cooperation between the two countries”.

“We cannot say that we have reached a very interesting level but what we intended to do is to make sure that those who will like to invest, that means the people coming from one country will like to invest in another country, have all the abilities to work,” Minister Motaze said.

The member of government reiterated that the Tax Treaty also aims to ensure the deals of investors are “not hampered by the fact that they pay taxes in their country and they have to pay taxes in the other country. This is what we have done today”.  

Worth noting is the fact that the recently signed Tax treaty between Cameroon and the Czech Republic brings to nine the number of bilateral tax treaties signed between Cameroon and other countries.