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Cameroon Finance Law Affects Gambling

CAMEROON – As reported by the Cameroon Tribune: "…One of the areas affected by the 2005 Finance law is gambling and entertainment. This particular sector has been gaining ground with many people getting involved in the business. Many people have won millions and undertaken development projects with the money. There are also people who have emptied their salaries into gambling machines, starving families. Those operating in the sector seem to have enjoyed a lot of fiscal advantages since the fiscal law of 1992/93 defined the conditions under which the games shoud operate.

"…The major innovation in the 2005 Finance law include: the imposing of Value Added Tax on gambling and entertainment, particularly on all incomes from stakers on horse race gambling, income from casino gambling, screen licence tax from all gambling machines with screens, personal revenue tax on all gamblers and entretainers. That notwithstanding, it is important to pre-empt fears that may be expressed by those operating in the sector as to the fiscal weight it may bear on them. Authorities of the department of Taxation do not think in the same line…"

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