In Cameroon, taxes and duties payable are grouped around direct taxes, indirect taxes and local taxes, and para fiscal taxes. The tax legislation distinguishes three tax regimes depending on the turnover, size, and legal form of the company.
The Concept Of Africapitalism And The Role Of The Private Sector In Africa’s Socio-Economic Development
Constrained by a crippling environment and burdensome government policies for decades, Africa still hosts a majority of the least developed countries of the world. The private sector is said to have a major role to play in Africa’s development, a situation which Elumelu (2019) describes as ‘Africapitalism.’
In Cameroon, SMEs constitute 95% of the country’s economy and also helps in job creation especially among the youths . This, to a greater extent, means that their successes or failures have significant implications for economic growth.
Admittedly, construction permits comprise a sub-category of the overall index where Cameroon ranks from 166th in 2019 to 167th in 2020. This article looks at current legislation for obtaining construction permits, the various parties involved and the implications for Cameroon’s economic development.