Cameroon collects 965.2 billion FCFA in tax revenue between January and May 2022, up 14.7% year on year
(Business in Cameroon) – The Cameroonian Directorate General of Taxes (DGI) announces that it collected 965.2 billion FCFA between January and May 2022. Compared to the same period last year, this represents an increase of 14.7% ( +123.5 billion FCFA). ).
Better still, the amount collected at the end of May 2022 is 21.2 billion FCFA higher than the initial forecasts, which brings the rate of achievement of the objective to 102.3%. If this rate of revenue collection is maintained throughout the year, the DGI should reach, or even exceed, its annual objective: 2,184.8 billion FCFA.
According to the tax administration, the good performance of tax collection is the result of government reforms implemented in recent years, mainly the development of an online tax platform. “Today, everything is done online […] It is possible to register via mobile phone or computer, and pay taxes without going through the tax office. There is no longer a cashier at the tax office. Even the various tax certificates are now acquired online”, explains Modeste Mopa (photo), the director general of taxes.
Broaden the tax base
Thanks to this initiative, the time spent by taxpayers fulfilling their tax obligations has been reduced “by around 30%”, Prime Minister Joseph Dion Nguté revealed on November 26, 2021 at the National Assembly. It was during the presentation of the Cameroonian government’s economic, financial, social and cultural program for the 2022 financial year. The online platform has also helped reduce fraud and make payments easier and safer. In fiscal year 2021, 10 billion CFA francs of tax revenue was collected through mobile money, according to data from the Ministry of Finance.
To further lighten tax procedures, the authorities have also deployed a strategy that allows companies to collect certain taxes before transferring them to the DGI (airport tax collected by airlines, car tax collected by insurance companies. .., editor’s note). New taxes have also been introduced to broaden the tax base. An example is a tax on electronic transfers introduced in the 2022 finance law. Decided as part of the expansion of mobile money and mobile banking services in the country, this tax is expected to bring in around FCFA 20 billion in additional revenue this year. year, according to DGI projections.
Brice R. Mbodiam