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Cameroon's Finance Law for 2024 Introduced Several Tax Changes Including Deduction Changes, Return Deadline Changes, and CbC Reporting

21 February 2024

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Approved Changes

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Cameroon

Cameroon's Finance Law for 2024 (Law No. 2023/019 of 19 December 2023) has introduced several tax changes for 2024. Some of the main tax changes for companies are summarized as follows: Amendments are made regarding deductible and non-deductible expenses (losses): the limit on the deduction of head office expenses is amended with the addition of a limit equal to 1% of turnover for companies in a continuous deficit (loss) situation and for new companies and, if there is no turnover, the basis is the total amount of annual expenses (standard limit is unchanged at 2.5% of taxable profit before deducting...