The Minister of Finance, Louis Paul Motaze, signed an agreement with Zdeneck Krejci, ambassador of the Czech Republic, on 7 February in Yaounde, which also includes the avoidance of double taxation.

Cameroon and the Czech Republic have opted for a coalition against tax evasion.  Louis Paul Motaze, the Cameroonian Minister of Finance, proceeded this February 7 in Yaounde, to the signing of a tax convention between Cameroon and the Czech Republic, aimed at avoiding double taxation and preventing tax evasion in terms of income tax.

In other words, under this agreement between both parties, taxes paid in one country by a company present in both territories are taken into account in the other country. This will lead to a reduction in tax burdens for the benefit of the companies concerned by the agreement.

This coalition materializes in a context where, almost a year ago, the Czech Deputy Minister of Defence, Tomas Kopecny, was received in audience by the Cameroonian Minister of External Relations, Lejeune Mbella Mbella. He said at the end of the meeting that he came to Cameroon with other colleagues who would like to invest in the exploration of mineral resources.

This mission to Cameroon came nine months after a visit by a dozen Cameroonian economic operators in the agro-industry sector to the Czech Republic. “I will be very happy that our country participates in the development of the agro-industry of Cameroon, a stable country in economic progression. It can become a model in the use of techniques to reach the world level in this field. This also requires cooperation with research and training institutions, and we are ready for this,” said Jiri Sir, the Czech Deputy Minister for Agricultural Raw Materials, Foreign Relations and Organic Production.