The revenue collected by the tax administration of Cameroon for the fiscal year 2017 amounted to 1,769 billion CFA francs, APA learned on Monday in Douala from the General Tax Directorate (DGI).
The receipts are up by 50 billion CFA francs, compared to the previous year, when the tax contribution to the state budget was 1,719 billion CFA francs.
This is a “great achievement,” the Ministry of Finance (MINFI) said, and hailed it as a consecutive increase over the past five.
Encouraging results have led the Cameroonian government to further involve the tax administration in mobilizing financial resources to enable the country to carry out its development projects.
Thus, the objective assigned to the General Tax Directorate in the 2018 financial year is to garner 1,800 billion CFA francs.
According to DGI officials, this objective could be attained through diversifying the tax base, which puts a particular emphasis on a “development tax policy,” the modernization of payment procedures, as well as the extension of tax niches in order to increase the number of taxpayers.