SEC-S20W4 | My Business Ideas | Registration, license, and Taxes

Steem greetings to everyone from my home country Cameroon .It’s another awesome week for me to participate in this season20 Steemit Engagement challenge .Which have we have so treated alot of topics about business ideas , strategies, capital investment . today we are going to continue with “Business registration, license and Taxes”. As my focused has been to open a cake, pastries and cake accessories shop.

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My explanation will be focused on my idea and ideas on how business operates in my country Cameroon .Their registration modalities, license and taxes procedure . I hope you all will develop interest to read through my piece of writing below 👇 sections.

In my country Cameroon where I plan to open a business Pastries and cake accessories .There are various procedures you need to follow for business to register . The first major important thing is state the your business plan and functions .Inside you most indicate .Attestation of location stated area where business will be located in Cameroon.

Also ,certificate of non indebtedness of the business and the willingness to make your tax payer card . All these will be processed to the taxation department for authorization of your business to operate after paying a token fee .Depending on the business you will want to operates .

By giving you an authorized tax number From here you will be asked you process your CNPS .This is done at the labour office insurance .The reason for the registration at the National insurance office .It’s to safe guard your business or compensate you cases of fire accident in the shop , pollution disaster etc .It’s makes sure to support you and cover some expenses.It’s also noted that you most accept to comply with tax laws .

The director of the taxation department always make sure VAT 16.5% to 19.5% depending onthe the type of business this taken inconsideration .Especially when the business start growing to a larger scale .Before operating my business cakes pestries and cake accessories I most take following in consideration.To avoid frequent disputes with the taxation department.

OHADA playes a great role in assisting the the court of first instances and taxation department.To issue business licenses (it’s an intergovernmental integration for businesses) and RCCM(.Helps in facilitating business licenses for companies operation .Like said it’s should be noted an annual fee will be paid for this license yearly .

The the business registration in my country and it’s approved . There is no longer a procedure to obtains business license.Your business license will be given to you from the taxation legal department with no worries .This is always issued by the director of taxation department when they see all your registration documents are clear with no faulty .They is a token still paid for the license to be given to you .

It’s should also be noted I talking depending on my business because it’s a small scale business but if it’s. Company business license most issued from the taxiation department after a series of documents have been stamped and valided by the first court of instances in my country .For the company it can take 3 to 6 months for the license to be validated. That company to operate without no problem.

In my country Cameroon tax levied for the payment of tax will always depend on the type of business you operates.I earlier mentioned this taxiation paid yearly . The VAT of a trader or that of my business operation . I want to set up may be like cake and pastries a normal small shop can be 15.5% while of a manufactured can be 19% required to be paid.

At times some people turn to delay to pay this tax but the taxiation department in charge of collecting .Will sent their works to move door to door in business location to collect .At times some shops are cealed if the don’t respect the date line to paid . Extra charges are charged on business person who against payment of their tax payment by delaying . To avoid conflict with the taxiation department it always good to pay your tax early enough.

In case of problem faced by tax I will like to contact expert in issues like tax especially taxation personnel’s .Who are more professional in what they are doing .They will be be ready to direct and advise you incase when there is a problem related to tax . These tax personnel’s will be ready to help in cases where is a fluctuation of tax payments.

They best suited incase of my country to settle tax disputes and mis calculation easily .Especially where you find yourself as someone you own a company paying more than what you deserved .It’s should noted they have a court department in tax law which can settle all these .Having expert in the field will help to defend your company in case of problem .Eventhough,at the end you will need to spend money .Hence prevention is better than make sure you follow your tax obligations seriously than involved yourself .In un necessary problems because you were not active .

I have come to the end of presentation concerning business registration, license and tax in my country Cameroon .Giving the necessary details needed .I will invites @eliany @crismenia and @rafk to participate in this contest with their own ideas in their countries .