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Cameroon: towards the establishment in 2017, of a 2% export tax on medicinal plants

Cameroon: towards the establishment in 2017, of a 2% export tax on medicinal plants
  • Comments   -   Thursday, 01 December 2016 17:51

(Business in Cameroon) - Starting from 2017, the Cameroonian government could establish a 2% export tax on medicinal plants, as informed by the 2017 Finance bill developed by the State and currently under review in Parliament.

This tax, and many other submitted for approval to the members of Parliament during the last sessions at the Parliament and Senate for the year 2016, should enable the State to somewhat replenish its coffers in a situation of drop in oil revenues for producing countries such as Cameroon.

As a reminder, Cameroonian forests are packed with numerous varieties of plants reputed for having positive effects on the treatment of several tropical diseases. Such varieties are increasingly sought by major Western laboratories, who will now have to pay 2% of the value of the exported plants to the Cameroonian public Treasury.

BRM

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