Legal Question in Business Law in Cameroon
V.A.T. Payment
Sir,
we are new entrants in garment exports to west african country.Please clarify whether we have to pay 1% vat revenue for permitting transfer of funds from camaroon.The actual shipment of the goods is scheduled by end march 2005. The buyer from camaroon is requesting us to remit the 1% charges to ministry 0f finance and economics dla-cam. Pls advise.
With regards
g.Sundararaj
1 Answer from Attorneys
Re: V.A.T. Payment
Payment of funds for the goods exported from your side depends upon your payment terms when you enter into contract with the buyer.
NOrmally the person who is importing the goods has to take care of his country procedures unless explicitly agreed that the seller has to bear it.
If you are in Chennai you can contact me for futher assistance.
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