Car sales in Cameroon have become a major supply of income for the neighborhood economy. But the buying power of used cars in the united kingdom is getting afflicted with the economic situation. As a result, the costs of new cars are rising. So, if you are planning to purchase a second hand car in Cameroon, you must bear in mind some important points.

Taxes and taxes

If you’re likely to import or sell a car in Cameroon, it is essential to learn in regards to the taxes and duties which can be applicable to each vehicle. The rates may differ, with regards to the age of the vehicle.

Like, an automobile with a payload of less than three tonnes and an engine capacity of under 2000 cc is subject to a 58% tax rate. A vehicle by having an engine of more than 2000 cc is subject to a 77% tax rate.

The tax authorities want to make the method easier for taxpayers by digitizing services and procedures. They also desire to minimize the physical contact involving the tax official and the taxpayer.

The tax law of Cameroon is on the basis of the Constitution of the united states and international treaties. There’s also a single income tax imposed on individuals and corporations. Nonresidents are taxed only on their Cameroon-source income.

Personal income tax is levied on individuals who spend more than 183 days in the united kingdom in a calendar year. However, scholarships, cash vouchers issued by companies, and interest on savings not exceeding XAF 50 million are exempt out of this tax.

For businesses, corporate income tax is imposed on worldwide income. Companies must have a registered office in Cameroon and a centre of activity in the country.

Second-hand cars for sale in Cameroon

If you’re available in the market for Kribi car sales in Cameroon, there are numerous items to consider. First and foremost, you will have to consider your budget. It’s also advisable to bear in mind that there surely is a lot of corruption in the country. That’s why you will want to utilize a knowledgeable custom clearing agent. You may well be able to reduce the amount of custom duty you’ll pay.

Second-hand cars in Cameroon are mostly imported, and a majority are from Japan. Some of the best brands are Toyota, Nissan, Mercedes and BMW. The buying price of these vehicles isn’t exactly pocket change, and you can have a hard time finding the most effective bargains.

The fee to import a car to Cameroon may differ by location, year and model. A good principle is to expect to spend between three million CFA to five million CFA on a newer model. You will even have to factor in the expense of transporting the vehicle from your home country to these Port autonome de Douala.

The very best time to purchase a used car is through the off season, when the costs are lowered. It’s also advisable to look into buying a car with a warranty. Having one will save you from costly repairs.

Economy has reduced the purchasing power of used cars

The economic crisis in Cameroon has left its mark on the purchasing power of Cameroonians. However, the main impact has been felt in the shape of ban on importation of used vehicles. Although this policy has been on the books for a long time, its real impact is not yet ascertained.

One of many challenges of the policy is its effect on the country’s vehicle manufacturing industry. The ban on importation of used vehicles has not only led to scarcity, but also to increased prices. As a result, production of new vehicles has decreased by 17%. This has a positive effect on the country’s exports as well, a point borne at heart by the government.

To higher understand the potential impact of the NAIDP on the automotive industry, a study was conducted on the potency of various vehicle regulations in Africa. The outcomes revealed that although the newest car is the star of the show, the real winner is the used LDV. These study analyzed annual data on the trade of used vehicles. Particularly, the most common used vehicles are old cars which were in service for over 20 years.

As a result, probably the most obvious question is perhaps the ban has already established a corresponding impact on vehicle sales. In the absence of a definitive answer, the most effective guess is that the NAIDP has already established a limited impact.