If the Cameroonian Parliament adopts as it is the proposal made by the Government in the 2017 Finance Bill currently under consideration in the National Assembly, the export tax on logs will increase to 20% Early 2017, we learn officially. This new rate will then devote a 2.5% increase on this tax, which has so far reached 17.5%.
This projected increase can be explained in two ways.
First, with the continued decline in oil revenues, the Cameroonian government intends to create new revenue items or to increase the contribution of existing posts in order to provide more and more cash as a result of major projects under way in the country and the additional expenses incurred in the fight against Boko Haram. From this point of view, wood, which is Cameroon’s second most important export product behind oil, appears to be the right product for boosting customs revenues. According to statistics from the National Port Authority (NPA), an overall volume of 938,455 tons of logs was exported during the year 2015.
Secondly, the desired increase in the export tax on logs can be understood as a government strategy to encourage foresters to engage in local processing. Which is not only a source of employment in a country where unemployment is endemic but also creates added value for the entire national economy.