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Cameroon-tax obligations: Louis Paul Motaze calls on 38 companies to publish their financial statements

by Theophile
Le Ministre des Finances, Louis Paul Motaze

As of May, 38 companies carrying out income-generating activities on Cameroonian soil and reporting to the Large Enterprises Directorate of the General Directorate of Taxes have not yet subscribed to the obligation to submit their statistical and fiscal declarations for the 2023 budget year, with the Ministry of Finance (Minfi).

The Minister of Finance, Louis Paul Motaze has made public a list of 38 taxpayers whose deadline for submitting statistical and tax declarations (DSF) for the 2023 financial year has expired since March 26, 2024. Among others in this list we count: Cameroon Airports (ADC), Bocom Petroleum, Cameroon Development Corporation (CDC), the Shipyard, Bofas BTP Sarl, Maiscam, National Electricity Transport Company (Sonatrel), Bestway Finance Ltd etc. These companies had until March 26, 2024 to comply with the above-mentioned requirement. They are therefore invited to do so without delay “in order to avoid the inconvenience linked to tax sanctions”, we can read in the press release published by the Ministry of Finance.

For the record, the Statistical and Tax Declaration is the most important accounting document of a company, during a period called the financial year. It must be filed with the appropriate tax services, so that they can tax the taxpayer. According to the Directorate General of Taxes, statistical and tax declarations are a set made up of general information tables, financial statements accompanied by accompanying notes and tax tables. Any company which does not submit these documents for assessment by the tax administration within the deadlines set by the latter is exposed to automatic taxation.

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