Workshop on the GECL Invoicing Method and Related Finance procedure of withholding Taxes and VAT (value added Tax) as applicable to vendors/organ within the framework for operation in Cameroon.

Workshop on the GECL Invoicing Method and Related Finance procedure of withholding Taxes and VAT (value added Tax) as applicable to vendors/organ within the framework for operation in Cameroon.

The workshop took place on the 25th February at 4 p.m. in Douala,  the aim the workshop was to train the participating organizations  who are currently executing their  development project on the on the GECL Invoicing Method and Related Finance procedure of withholding Taxes and VAT (value added Tax) as applicable to vendors   within the framework for operation in Cameroon. The workshop was organized by Glencore Explorations Cameroon Ltd.

 

The participating organizations including FAHP-Cameroon that won the 2015 corporate social responsibility offer for giving back to the community, was drilled on  Issues identified in invoice presentation, the Tax law and Invoice Processing.

 

Glencore Explorations Cameroon Ltd gave elaborate explanation on issues being related in raising invoices including application of the tax laws (misunderstanding of withholding tax, VAT exemption etc.), and inclusion of scanned copy during invoice processing.

 

Clarifications on what is expected to be done every year by all vendors/organizations are that all vendors are expected to update their files in order to ensure accountability and transparency in transactions and also knowing the regime in which they belong. The file should contain:

  • Tax payer’s card
  • Business license
  • Tax regime option
  • Any other tax exemption / advantage

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