Gicam proposes strategies to unlock the full potential of property tax

The employers’ group in Cameroon, GICAM, has suggested several measures to unlock the full potential of the current property tax in the country. Despite an estimated yearly potential of FCFA 100 billion, the tax directorate, DGI, has been struggling to collect just FCFA 4 billion annually. According to the DGI’s ten-year report from 2010 to 2020, the property tax reached its highest point in 2016 at FCFA 3.9 billion but has steadily decreased since then, hitting its lowest in 2019 at FCFA 2.2 billion. The tax applies to any individual or legal entity owning “de facto or de jure” real…