Battling the Fiscality presures of Cameroon tax system

M. Tchendjou; General county president of SYCODEW

During a seminar held on Friday 20th of Juin 2014 in Douala, SYCODEW members who are all traders from both the formal and informal sector were sensitized on the benefits of adhering to a (centres de gestion agréés ) CGA for managing their taxes. This was an initiative of Pierre WANSSY firm and associates. This seminar recieved te support and the participation of Chartered Accountants Without Borders from France. 

 For two hours, retailers traders of Wouri under SYCODEW forgeot about their everyday routine substituting with seminar experience; they all had shirts and pen in hand,  they took notes and asked various questions that were of interest to their segments. Under the leadership pannel we had: Dr. Peter Wanssy; owner of the (centres de gestion agréés) CGA and of  Pierre WANSSY firm and associates,  M. Tchendjou; General president of SYCODEW , and two members of accountants without border from France.

Pierre WANSSY, Chartered Accountant

This is one of the first financial reforms of 2010. Approved management centers (CGA) are associations of businesses by industry. History tells us that there are four approved management centers in Cameroon. According to the explanations of Dr. Pierre Wanssy, only registered professional tax, accounting, economic or consular chambers, offices and office holders, trade associations, farmers, artisans or industrial legally constituted are entitled to their creation. 

The beneficiaries are individuals or legal entities with an annual turnover exceeding 250 million F CFA. Previously, the company must register by paying a membership fee payable once at registration and must not exceed 25% of the annual contribution set under the tax scheme. Therefore, the member of CGA are entitled to a certificate of registration, a permanent administrative assistance in matters of management, accounting and keeping financial records and income tax benefits. It is these lessons that traders and retailers of Wouri were fed with that Friday, June 20, 2014.

In the opinion of Mr. Tchendjou the County General Chairman of SYCODEW, all these lessons were inspiring, and it is now upto them to organize themselves in order to enroll in the center accounting for the smooth running of their fiscal activities.