The Cameroon government has granted a short grace period to taxpayers facing the crippling effect of the Covid-19 pandemic.
According to an announcement by Louis Paul Motaze, the Minister of Finance, big businesses which fall under the general directorate of taxes have up to March 31, instead of March 15, to acquit themselves of their 2020 tax obligations.
“This decision aims at accompanying the taxpayers within the context of the persistent health crisis (COVID-19) and the dematerialisation of the fiscal procedures,” the Minister of Finance announced Monday, March 15.
On the other hand, small and medium-sized enterprises which pay their taxes at divisional tax centres have a longer period.
“The biggest beneficiaries of this government measure are the enterprises that pay their taxes at the divisional tax centres and who equally constitute the bulk of taxpayers in the country,” he added.
“They have up to April 30, 2021 to acquit themselves of their 2020 tax obligations instead of March 15, 2021.”
Some fiscal analysts think this new measure by the government would reduce the pressure on economic operators who have suffered from the COVID-19 devastation, but most business operators are not of the same opinion.
“The second wave of the coronavirus is already here and it is almost certain it would cause more damage this year than last year especially with the reinforcement of restrictive measures now being put in place,” Ajong Mathias, who runs a small fabrication outfit in Douala told HumAngle on Tuesday.
“To think that a moratorium of 15 or 30 days can be of help to crumbling businesses is foolhardy.”