Economic Developement Within CEMAC: Harmonizing Taxation Standards Recommended

I n a bid to ensure the sustainable economic development of the Economic and Monetary Commu­ nity of Central Africa best known by the French acronym CEMAC, mem­ bers of the Intergovernmental com­ mittee of Senior African and experts for the CEMAC Region (ICSOE) cur­ rently meeting in Yaounde for their have recommended amongst others, the harmonization of taxation stan­ dards within the CEMAC Region. This recommendation is a strategic effort to empower and encourage the international trade within the Region and further encourage the due registration and legalization of Small and Medium-Sized Enterprises (SMEs) informally operating within the Region. According to the team members of the fourth group whose deliberations were based on Regio­ nal integration and value chains: the value of market expansion and industrialization within the Region, Central Africa is largely dependent on non-African imports which takes a toll on the continent’s economy which is largely dominated by the private sector, that has over the years, been plagued by administra­ tive bottlenecks such as heavy taxa­ tion, poor logistics, inaccessible data within the ecosystem, amongst others, To ameliorate these vices, the forum recommended that State actors in collaboration with private sector stakeholders, should unite forces within the ecosystem to harmonize economic and leadership standards; urgently complete the rationalisation process of the 2 CRs: CEMAC and ECCAS with the aim of extending CEMAC’s free movement within the ECCAS Region; and animate linear development corridors, To further ensure the Region’s ap­ titude to equip businesses with the means ...