Export of Services and Repatriation of Revenues in Cameroon and CEMAC
All external transactions related to services are reported to the relevant authorities.
Transactions with third parties related to services for an amount equal to or greater than CFAF 5 million are domiciled with a CEMAC credit institution.
All exports of services are evidenced by a contract for the provision of services or any document in its place.
The service contract may consist of one of the following documents: agreement, purchase order or contract form, invoice or any other document in lieu thereof.
The service contract must include the following information:
- The names of the contracting parties and their addresses;
- The purpose, nature and scope of the services to be provided;
- The agreed remuneration and its terms of payment;
- The date of conclusion of the contract and its duration.
The export earnings from the services are collected and repatriated by the exporter through his domiciliary bank through the Central Bank.
Importation of Services and Regulation in Cameroon and CEMAC
All imports of services are evidenced by a contract under which a non-resident undertakes to provide a resident with a service or technical assistance, or in particular to grant him the right to use a sign, trademark or tradename.
All service import expenses are reported to the Central Bank.
Transactions for an amount equal to or greater than CFAF 5 million are domiciled with a CEMAC credit institution.
Any technical assistance or import of intra-group services, as well as any financial contribution by resident companies to the management and research and development costs incurred by their parent companies or shareholders, is subject to compliance with the arm's length principle.
Imports of services shall be carried out under the responsibility of the entity concerned and shall consist of the actual provision of services corresponding to the real needs of the resident entities and remunerated at their fair price, failing which the relevant transfer payments shall be rejected. Credit institutions shall carry out specific checks for these operations in accordance with the terms and conditions specified in the Central Bank Instruction.
The BEAC defines by Instruction the terms and conditions and the constituent elements of the pre-financing and hedging files for the import of services.