Businesses in the North West Region are facing growing risks from non-compliance as new fiscal and customs measures under the 2026 Finance Law come into force, a seminar organised by the Cameroon Chamber of Commerce, Industry, Mines and Crafts on Wednesday revealed.
The seminar, which brought together economic operators, chartered accountants, legal experts, and government officials, highlighted a persistent problem of businesses remaining unaware of key obligations under the law, leaving them exposed to fines, penalties, and lost opportunities.
Edison Fru Ndi, North West Regional Delegate for the Chamber, told Hilltopvoices that the lack of understanding has consequences for both operators and the state.
“In order to succeed in business and to succeed with the State, you have to be compliant. If you don’t go like they told us there are sanctions,” he said.
Speakers outlined the context, innovations, and implications of the new law for firms and individuals. Officials underlined that the law aligns with Cameroon’s National Development Strategy to 2030, aiming to broaden the tax base, modernise tax administration, and mobilise internal resources without undermining economic activity.
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The seminar provided solutions by translating the technical provisions of the Finance Law into practical guidance. Presenters explained the innovations introduced in 2026, including stricter digital invoicing for VAT reporting, new tax obligations, and customs exemptions for priority sectors. Njanjoh Thomas Kasum of the Ministry of Economy, Planning and Regional Development, MINEPAT linked these reforms to national development priorities, showing how the law supports investment policies and resource mobilisation to fund strategic projects.
Eden Akondi of the Regional Tax Center outlined how taxpayers can navigate the changes without disruption, while the Chief of Sector Customs North West Region Epie jerome highlighted exemptions and reductions for compliant importers and exporters.
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Chartered accountant Abege Patrick advised on adjusting accounting systems to align with new compliance requirements, and Barrister Sama Henry explained legal rights and dispute resolution mechanisms for businesses. On his part, Fortoh Charles Fongang emphasised the private sector’s role in executing projects that directly feed into national economic growth.
The expected impact, speakers said, is that businesses that engage proactively with the law can reduce risks of sanctions, gain access to fiscal incentives, and operate confidently within a predictable legal framework. Compliance, they argued, is not only about avoiding penalties but about leveraging opportunities embedded in the Finance Law to strengthen operations, attract investment, and contribute to regional and national development.
Edison Fru Ndi concluded that seminars such as this are essential for bridging the gap between policy and practice, creating a collaborative environment where businesses and authorities can discuss challenges and find solutions.
This seminar, therefore, positions compliance not as a burden but as a strategic advantage, ensuring that economic operators are equipped to transform legal obligations into concrete growth opportunities.
By Bakah Derick for Hilltopvoices web
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