By Kenneth Ndeh
I registered my US Company in the state of Virginia, USA for about $100.00 (50,000 CFA)and the same business in Cameroon I registered for about 500,000 CFA (US$1,000.00). I was taxed on anticipated revenue and not on revenue already generated.
At least 98% of Cameroonians in the USA work for the private sector and not for the United States Government. In turn, the amount of money Cameroonians in the USA send to their relatives in Cameroon far supersedes the money that the Bretton Woods Institutions, i.e. the World Bank (IBRD - International Bank for Reconstruction & Development of Europe) and its sister institution the IMF, lend the Cameroon government
What I am getting at here in many words is that the United States Government has created a friendly and etremely fertile milieu for industry and business to thrive to such an extent that it is the private sector that effectively runs the U.S. economy, with the powerhouse in New York we call Wall Street.
What need is there to re-invent the wheel? Wisdom dictates that it is imperative that the Government of Cameroon create an extremely fertile and environment friendly milieu for businesses, small and big to germinate & thrive.
Personally, I think the Government of Cameroon renders the economy of Cameroon almost useless by PUNISHING small businesses in the name of taxes. I registered my US Company in the state of Virginia, USA for about $100.00 (50,000CFA)and the same business in Cameroon I registered for
about 500,000CFA (US$1,000.00). I was taxed on anticipated revenue and not on revenue already generated.
The Ministry of Commerce or perhaps the other one called Petites et Moyennes Entreprises (small and medium size enteprises), in fact that petites et moyennes entreprises thing should not even exist!!! The other one,which generates internal revenue, that is the Ministry of Finance, should have an effective computerised means of registering & issuing business permits to truckpushers, soya stalls, cocoa & fish roasters, second-hand booksellers, those in Marche Centrale, Marche Nkoloulou, etc... The fees should be low enough to motivate them people to come and pay & collect the permits. Everybody comes out a winner.
Government gets its revenue by scaling up (make it cheaper and more register) and the environment becomes fertile as they would pride themselves in complying with the law.
Issue business credits for those who have as their nationality of origin - Cameroon from abroad coming to do business in Cameroon. Give some tax breaks per the number of employees, Clearing of container credits, etc....
Create a fertile business environment, please!
If you people in Cameroon need formal ideas, we will help. We recognize that the older folks above 70, have done their part. Let us also now do our part cognizant of the ever changing tides.