When dealing with income Tax rate in Cameroon, citizens and foreigners have to put into consideration major factors. The Cameroon income Tax rate plays a key role in the country’s economy.
The sales, corporate and personal income tax rate in Cameroon are determined from different sources. The taxation system are based, known and carried out by the regulatory bodies.
You may be asking, How much is income tax in Cameroon? How is tax calculated in Cameroon?b What is the rate of tax on salary? What are the different types of taxes in Cameroon?
If you wish to have the details on the income Tax rate for citizens, foreigners or expats, kindly go through the information below.
How much is Income Tax rate in Cameroon?
The net incomes from other activities are subject to income tax at 33%. Personal income tax rates.
|Net income (XAF)||PIT rate (%)|
|0 to 2,000,000||11|
|2,000,001 to 3,000,000||16.5|
|3,000,001 to 5,000,000||27.5|
|more than 5,000,000||38.5|
How is tax calculated in Cameroon?
The proportional tax is based on the total gross sum of paid salaries and awarded material advantages deducted by 20% for professional expenses. These material advantages are evaluated in lump sums. The proportional tax is calculated at a global tax rate of 6.60 %.
What are the different types of taxes in Cameroon?
These are the type of taxes in Cameroon. Direct taxes, corporate tax, personal income tax, permits, licenses, property tax while indirect taxes include, VAT, Registration fees and Stamp duties, special tax on petroleum products, special income tax
That’s all you need for the Income Tax rate in Cameroon, use the comments section below for questions.