HOW TO CALCULATE MONTHLY TAX DECLARATION IN CAMEROON
At the end of the month, the taxpayer has maximum 15days to compute, fill and pay in their monthly tax declaration. In computing your tax declaration, a taxpayer must take particular note of the three key things.
1. The tax rates
2. Tax based and
3. The salary of the workers
To effectively declares tax monthly, the taxpayer must diligent.
1. Computing the Income Tax Deposit
2. Computing the Tax return on salaries
3. Value Added Tax computation
4. Other Taxes
COMPUTING INCOME TAX DEPOSIT.
This is the focus area on declaration as it considers the actua
turnover of the workers. This to take here are:
1. Turnover:
2. The tax rate: (2.2% for Real and 5.5% for simplified.
In practice the Tax on Revenue is as follows:
Assuming the turnover of company xyz is 2,000,000fcfa in t month of January 2022: The income tax deposit will be computed follows:
For CIME
= 2% × 2,000,000 = 40,000fcfa
= 0.2% of 2,000,000 or 10% of 40,000= 4,000fcfa
Therefore, Income tax deposit is 44,000fcfa
For CDI:
=5% of 2,000,000fcfa =100,000fcfa
= 0.5% of 2,000,000 or 10% of 100,000=10,000fcfa
Therefore, Income tax deposit is 110,000fcfa
THE TAX RETAIN FROM SALARIES
This is tax retained from workers’ salaries by the employer and paid to the government. By so doing the employer must make this computation while processing the payroll and make the payment on the total amount of salaries declared. The tax area here include:
1. Personal Income tax
2. Credit Foncier Cameroon for Employer
3. Credit Foncier Cameroon for Employee
4. Contributions to national employment fund
5. CRTV Tax
6. Local Development Tax
Detail on these taxes won’t be discuss in this section but we will give the essential to enable compute the taxes retained from salaries.
FILLING YOUR MONTHLY TAX
The filling process is filling the monthly tax declaration and making payment. With the advent of technology tax filling and payment have been made easy with just few clicks. This part will take your through the step-by-step process in filing your monthly tax at the level of simplified tax regime and Real Tax Regime.
To filled and declare monthly taxes online. The general procedure is
1. Login to www.impots.cm
2. Login with your unique taxpayer number and password
From here the process differs with the tax regime.
MONTHLY DECLARATION FOR CDI TAXPAYERS
1. Filling Tax retained from Salaries
This section as calculated above is strictly based on monthly salary.
The key thing to note here is that you are to fill in just the amount to be paid as tax not the actual salary.
a. Personal Income Tax (PIT) is on line
b. Additional Council Tax (CAC) same line with PIT
c. Credit Foncier/ Employees share of 1%
d. Credit Foncier/ Employers share of 1.5%
e. LDT/Municipal Tax
f. National Employment Fund
g. Audio Visual or CRTV TAX
Depending on the amount of salary, taxpayer might end up filing just credit foncier and National Employment Fund.
2. FILLING YOUR MONTHLY TURNOVER
In this section, the taxpayer is required to enter 5% amount deducted from the turnover of the month on line 8. This is considered as Deposit on CA. The system will automatically be considered as Deposit on CA. The system will automatically calculate the 0.5% and give the total.
3. DOCUMENTS AFTER DECLARATION
Once you are done and submitted your declaration, the following
documents are to be printed out to proceed with payment.
1. Tax Notice (avis d’impositions) containing declaration number to be used for payment
2. Payment Receipt ( afficher la quittance) after payment is done.
Article by CHUO ANGABUA JUNIOR
‘’The content of this article is intended to provide a general guide to the subject matter. We insist specialist advice be sought depending on your specific circumstance’’
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