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Cameroon Govt Increases Fiscal Stamp Prices by FCFA 500

Fiscal Stamp
Fiscal Stzmp

As of January 2023, the fiscal stamp, which until now cost 1000F, will be 1500. A provision of the 2023 finance law contained in article 547.

This modification is indignant to the citizens, who have already started messages on the web to take offence. “Meanwhile, the tax stamp has just increased from 1000 F to 1500 F , people are focused on comparing the national football team of Qatar and the Indomitable Lions,” wrote Jeunesse Actu on its Facebook page. This change is contained in article 547 of the 2023 finance law.

“The fiscal stamp which will cost 1500 F from 2023, will concern all Cameroonians without distinction of language,” said an  Internet user.

This change is not the only one in the new finance law. The transfer duty of the land title in case of sale is increased to 4%; the property certificate to 25,000fr, the judicial prenotation to 250,000frs; the import tax on rice is increased from 5% to 10%.

In order to secure tax revenues, the Ministry of Finance has been dematerialising the tax stamp since 2020. This reform aims to secure tax revenues. It is also part of the measures to facilitate and modernise the methods of collecting taxes. As a result, tax figurines or mobile stamps are no longer on sale by the Ministry of Finance.

According to the Directorate General of Taxes of the Ministry of Finance , tax revenue mobilised on behalf of the central government increased by 140% between 2010 and 2022, from FCFA 992 billion to FCFA2,384 billion (projection). This corresponds to an increase of FCFA 1 392 billion in absolute value.

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