Business

Cameroon – Public Management: Cameroon joins OECD in fighting tax evasion by multinationals

Cameroon joins OECD in fighting tax evasion by multinationals
Written by Deckson N.

Cameroon officially became the 70th country to accede to the Organization for Economic Co-operation and Development (OECD) Convention on Mutual Administrative Assistance in Tax Matters. The Act of Accession to this Convention has just been signed between the OECD and the Cameroonian Minister of Finance, Alamine Ousmane Mey (photo).

It was in March 2015 that the Cameroonian government had deposited on the table of the parliament a bill authorizing the head of state to make Cameroon accede to the above-mentioned convention.

Minister Alamine Ousmane Mey, explaining that this agreement will offer the tax administration the opportunity to improve its capacities to collect tax information, especially with regard to the Cameroonian subsidiaries of Multinational companies whose parent companies are, for the most part, located in tax jurisdictions already party to the agreement. This should lead to a better return on taxes and therefore more resources for our country.

 

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Deckson N.

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