LAWN. 2017/015 OF_ 12 JUIL 2017 TO AMEND AND SUPPLEMENT SOME PROVISIONS OF LAW No. 2013/4 OF APRIL 2013 TO LAY DOWN PRIVATE INVESTMENT INCENTIVES IN THE REPUBLIC OF CAMEROON

LAWN. 2017/015 OF_ 12 JUIL 2017

TO AMEND AND SUPPLEMENT SOME PROVISIONS OF LAW No. 2013/4 OF APRIL 2013 TO LAY DOWN PRIVATE INVESTMENT INCENTIVES IN THE REPUBLIC OF CAMEROON

PRESIDENCE DE LA REPUBLIOUF

SECRETARIAT GENERAL

SERVICE DU PICHIER LEGISLA F ET REGLEMENTAIRE

COPIE CERTIFIEE CONFORME

Section 1: The provisions of Sections 3,8,11,18,19,21,25,35 and 36 of Law No. 2013/4 of 18 April 2013 to lay down private investment incentives in the Republic of Cameroon are amended and supplemented as follows:

Section 3: (new) For the purposesof this law and the regulatory instruments arising thereof, the following definitions shall apply:

1. "Force majeure": any external and unpredictable event that is beyond the control of the parties, whose occurrence makes it impossible for the party under an obligation to fulfil such obligation;

1. "Economic dificulties": unpredictable circumstances which, while not rendering the implementation of the project impossible, significantly affects it;

Exportation": transaction consisting in selling or shipping products, goods and services outside the national economic area;

1. "Supplies and consumables": sundry resources, not available on the local market but essential for the functioning and quality of a company's production system or process;

1. "Incentives": special benefits granted by government authorities to a resident or non-resident natural or legal person, to promote and/or developa specifie activity:

1. "Input": item used in producing a semi-finished or finished product (raw material. labour etc.):

1. "Investment": asset held and/or acquired by an investor (company, shares, equity, bonds, monetary claims, Intellectual property rights, contractual rights, rights conferred by iaws and regulations, any other tangible or intangible movable or immovable property, all related ownership rights);

1. "Investor": resident or non-resident Cameroonian or foreign natural or legal person that acauires assets in the conduct of business for profit:

1. "Establishment phase": period not exceeding 5 (five) years during which the infrastructure and facilities essential for setting up a production unit are built:

1. "Operation phase": period during which production activities are effectively carried out. which starts to run:

(a) for new investors, automatically, upon or before the end of the establishment phase, once marketing or sale of products begins,, as ascertained by the body in charge of promoting investments or small- and medium-sized enterprises :

(b) for enterprises already established in Cameroon and carrying out

new investments, once the said investrnents becorne operational as ascertained by the body in charge of investment promotion or small- and medium-sized enterprises;

11."Intermediate products": goods processed by enterprises and used by other enterprises, either by incorporation or destruction, to produce a consumer good or a service; "Value added": creation or increase in value of goods and services from other sources by an enterprise in carrying out its day-to-day professional activities. It is calculated as the difference between the production of the period plus the gross profit on goods, and the consumption of goods and services supplied by others for such production.

Section 8: (new) (1) Any investor may benefit from a tax credit provided he or she meets one of the following criteria: