logoBC
Yaoundé - 26 September 2023 -
Economy

Cameroon: New forest information management system will boost revenues, MINOF says

Cameroon: New forest information management system will boost revenues, MINOF says
  • Comments   -   Tuesday, 06 April 2021 16:16

(Business in Cameroon) - On April 1, 2021, the Cameroonian Ministry of Forest and Wildlife (MINOF) launched SIGIF2, the 2nd generation Forest Information Management System. Despite the German Cooperation and the European Union’s refusal to acknowledge the platform, the MINOF is confident about its efficiency.  

"The official launch of SIGIF2 is an important sectoral advance. Although it is criticized by some partners particularly because of the origin of its developers and the slow development process, it will help the Ministry of Forest and Wildlife decisively address some of the issues found during the dematerialization process," the MINOF indicates.  

The ministry believes that thanks to SIGIF2, forest taxes will increase because felling taxes will rise by 25-30% since the real taxable forestry production of each forestry operator will be checked and all timber supply sources will be taken into account. Also, the MINOF explains, thanks to the platform, new revenue niches will be created (apart from traditional forest taxes) through the issuance of timber legality certificates, Flegt authorizations, and the computer fee.

According to the Directorate General of Taxation, over the 2018-2019 period, Cameroon generated XAF100.3 billion tax revenues from forest companies operating in the national territory (XAF50.9 billion in 2018 and 49.4 billion in 2019). Meanwhile, for the Ministry of Finance, over the said period,  XAF9.9 billion of forest tax revenues  (XAF5.1 billion in 2018 and XAF4.8 billion in 2019) were not paid to the state treasury. Therefore, with SIGIF2, the MINOF plans to help the public treasury get hold of those revenues.  

Sylvain Andzongo

cameroon-edf-create-joint-venture-to-pilot-the-kikot-dam-project
Cameroon is holding today the constituent general meeting of Kikot Hydro Power Company (KHPC), the joint-venture created in collaboration with its project...
cameroon-plans-to-boost-solar-capacity-to-250mw-by-2030
With an installed capacity of 30.6 MW, Cameroon has joined South Africa, Egypt, Morocco, Algeria, Senegal, Namibia, Tunisia, and Uganda on the list of...
agnes-ndoumbe-mandeng-faces-10-year-ban
Agnès Ndoumbé Mandeng, the current CEO of the Cameroonian Bank for SMEs (BC-PME) is condemned to stay out of the banking and microfinance sector for 10...
quality-agency-anor-calls-attention-to-the-ban-on-potassium-bromate-in-bread-production
Charles Booto à Ngon, head of the Standards and Quality Agency (Anor), issued a memo on September 19 reminding bakers of the ban on using potassium...

Mags frontpage


Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer


Albert Zeufack: “Today, the most important market is in Asia”


Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir


Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »