The tax environment in Cameroon is at best harsh, aggressive, uncertain and unfair and only takes the smartest of brains to navigate the maze and achieve desired objectives. Our strategy consists in working with clients to identify the most tax efficient transaction execution routes prior to engaging in transactions as well as pre-emptive tax reviews prior to tax administration audits.
We recognize the high probability of becoming oblivious to the nascent tax risks as we become consumed with the quest for operational efficiency. Rest assured, you will have to deal with these in the future in firefighting and damage control mode. We help deal with these issues now and minimize future liabilities. We seek to assist you create competitive advantage by incorporating the tax dimension in business objectives and decisions.
We assist clients with the following
- Preparing and filing monthly tax declarations due by the 15th
- Preparing and filing monthly social security returns due by the 15th
- Preparing and filing annual statistics and tax returns due by March 15th
- Preparing and filing annual social security filing due by the January 15th
- Preparing and filing annual employment returns due by January 31st
- Managing ongoing relationships with the tax administration
- Managing ongoing relationships with the social security administration
We perform preemptive business, process and transaction reviews to identify existing and nascent tax and social security risks as well as advise on remedial action
It is vital to stay a step ahead of the revenue inspectors as they quiz your transactions if you must avoid providing inappropriate, too much or too little information that may proof costly. We assist with managing end to end communications with the tax and social security administrations beginning from the audit notification through preparing explanations and responses during the onsite phase to managing the post audit processes, crafting defense memos and engaging the administration in negotiations where appropriate.
Transfer pricing compliance obligations and audits are in their early days in Cameroon, yet we are already experiencing a steady rise in transfer pricing related claims arising from the audits of multinational companies. TP legislation is still primitive and administrative guidance far between, leaving tax payers at the mercy of an all-powerful tax administration acting as judge and party. Our transfer pricing professionals assist with risk mitigation via
- Review of transfer pricing obligations arising from tax law
- Review of transfer pricing documentation for compliance with local law
- Assistance with TP related audits and dispute resolution
- Preparation & review of Advance Pricing and Cost Contribution Agreements
- Preparation of appropriate transfer pricing documentation
Thinking ahead to avoid the storm, we add value to our clients via
- Researching and advising on transaction execution routes that will be most efficient from a tax standpoint, particularly for corporate and group transactions.
- Advising on available and applicable tax incentives in tax law
- Identifying and advising on tax planning opportunities available in the law
- Drawing up and documenting defensible technical services agreements and reports to ensure inter-group services expenses remain deductible.
- Advising on tax saving opportunities available in applicable double tax treaties
