The members of the Association of oleaginous refiners of Cameroon (Asroc), who produce between 90 and 95% of the refined vegetable oils and household soaps on sale in Cameroon and the CEMAC zone, are threatening to not attend the Cameroon-Nigeria economic forum which will take place from 13 to 14 September 2016, we learned during a press conference organised on 26 July 2016 in Yaounde, the country’s capital.
Asroc, a group to which the Cameroonian Ministry of Finance again gave the award for best exporter of Cameroonian products, thus wants to denounce the non-refund of VAT credits (value-added tax) by the State, for 5 years. “The presence of Asroc to this forum, strongly advised by the government, could be compromised if no step is taken to solve the problem of non-repayment of VAT credits”, Jacquis Kemleu Tchabgou, General Secretary of Asroc, indicated.
Even though the total amount of VAT credits not refunded to the members of Asroc was not revealed, we were however able to learn that three companies are claiming, on their own, FCfa 9 billion. These are, according to our sources, SCS (FCfa 4 billion), Azur SA (FCfa 3 billion) and Nosa (approximately FCfa 2 billion).
As a reminder, according to the Inland Revenue Office of Cameroon, exporting companies, for whom the application of the zero rate in terms of VAT means they are in a position of credit, must submit a refund application for this tax after three months of accumulated credits. The corresponding funds must be repaid to them within a regulation period of two months. But, according to Asroc, the State has not respected this commitment for the past 5 years, and thus negatively impacts on the treasury of the oil refiners.