Cameroon-South Africa: Taxation Convention Governing Bill Tabled

The convention concerns avoidance of double taxation and prevention of tax evasion

 

The bill to authorise the President of the Republic to ratify the Convention between the Government of the Republic of Cameroon and the government of the Republic of South Africa for the avoidance of double taxation and the prevention of tax evasion with respect to taxes on income, signed in Yaounde on 19 February 2015 will be examined by the Committee on Finance and Budget. This is one of the five bills tabled during a plenary sitting of the National Assembly on March 27, 2017.
The convention governs the taxation of active income (investment income, corporate profits, international traffic,  as well as the definition of the concept of permanent establishment). There is also passive income that concerns dividends, interest, and royalties/technical assistance. This is done by enshrining the principle of tax sharing between State of source of income and the State of residence of the beneficiary, and other income generated by taxpayers of both countries. The convention provides for the sharing of not only the right to taxation of retirement pension between the State of source of income and the State of residence of the beneficiary, but also the right to collect tax on income that is not expressly covered by the prov...

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