The tax on individual income ranged from 10-60% in 1996. Also levied were housing fund and employment taxes, a tax to finance Cameroon television, and social security taxes. The corporate tax rate was 38.5%. In 1999, a value-added tax (VAT) was imposed on goods and services sold in Cameroon at a rate of 19%, and8.8% for products that qualify for a reduced rate. Other levies include taxes on business licenses, certain consumption goods, and stock dividend distributions.