Switzerland and Cameroon to find a solution to the double taxation of companies operating in both countries

(Business in Cameroon) – During the inauguration of Nestlé Cameroon’s new production unit on April 12, 2018, in Douala, Pietro Lazerri, the Swiss ambassador to Cameroon informed that his country and Cameroon would initiate discussions to find a solution to the double taxation of companies operating in both countries.

The diplomat explains that such solution will boost those companies competitively. Indeed, according to a tax expert, due to a lack of a legal agreement between Switzerland and Cameroon, the companies operating in both countries are obliged to pay taxes in each of its countries of operation.

In case an agreement is met, if such company pays its tax in a country, the other country will consider it. This will reduce the taxes those companies are subjected to.