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Cameroon: Loggers Call for Downward Revision of Felling Tax in 2020 Fiscal Year
Category :- Business Author :- L J KINGAH 
Posted on June 5, 2020, 5:12 pm
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Cameroon Loggers Association known in French as Groupement de la Filiere bois du Cameroun-GFBC has called for a downward revision of the felling tax in the 2020 fiscal year which they believe will be helpful to loggers across Cameroon.

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On behalf of loggers across the country, GFBC is calling on tax officials to take it down to 2.5% of the FOB price of the volume of felled logs that was in paid 2018.

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In 2019, in the Finance act it was set at 4% and this same level was renewed for 2020. They are therefore calling for a return to the 2018 tax level of 2.5% which will serve them a reduction of 1.5% in tax.

logging in cameroon

As elaborated by Cameroon Ministry of Finance-MINFI, felling tax is the, “tax paid or withheld at a source by the customer for logs purchased from third parties and paid to the Division of Large Companies known in French as programme de securisation des recettes forestieres-PSRF of the General Tax Directorate.”

logging in cameroon

This call has come up after the association called on the government’s help due to falling demands resulting from the coronavirus pandemic. The president of GFBC- Giorgio Giorgetti had requested support from the Ministry Of Forestry and Wildlife to tackle the twin shocks-COVID-19 and consequent falling demand.

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Tagged Keywords: minfi, fiscal year, logging, gbfc cameroon
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