The Finance and Budget Committee of the National Assembly is preparing to examine the bill to organise and lay down the profession of tax consultant in Cameroon. It was tabled during the plenary sitting of the House yesterday, March 21 presided at by the Vice President, Hon. Monjowa Lifaka Emilia. She announced that the Minister of Finance will defend the bill in the Finance and Budget Committee.
In the explanatory statement, government says that the bill is to harmonise national and community laws and replaces the law of 16 July 1999 to define, lay down the organisation and conditions for the practice of the profession of tax consultant. The Council of Ministers of the Central African Economic Union (UEAC) during their December 11, 2009 session, as proposed by the Central African Economic and Monetary Community (CEMAC), adopted the rule to revise the profession of tax consultant. The bill, incorporates all the amendments made by the CEMAC instrument, and further supplements the said instrument.
By adopting the bill, government explains, it will help Cameroon to honour its commitments toward CEMAC, ease young graduates’ access to the profession of tax consultant and clarify the definition and roles of the profession, thus better distinguishing it from the profession of accountant, which is similar to it. The bill is also intended to improve the business environment with the introduction of court experts and also ensure a better response to government’s efforts to improve fiscal responsibility. The bill comprises 101 sections and is divided into five parts.
The Constitutional Laws Committee yesterday examined the bill relating to the accounting profession and the functioning of the National Association of the Professionally Qualified Accountants of Cameroon (ONECCA). The Minister Delegate at the Ministry of Finance, Pierre Titti defended the bill in the presence of the Minister Delegate at the Presidency in charge of Relations with the Assemblies, Gregoire Owona. The Constitutional Laws Committee carried out the substantive study of the bill. This followed the report earlier made by the Finance and Budget Committee that examined the bill last Friday.
The bill that comprises of 91 sections, broken down into three parts, seeks to broaden the scope of Cameroon’s accounting legislation by correcting the shortcomings of previous laws that have become obsolete. The adoption of the bill will make it possible to substantially improve State revenue collection through the payment of some equitable taxes resulting from the increased sincerity in filing corporate financial statement returns, compile more reliable national statistics and mobilise the necessary funding for the national economy.
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