Cameroonian customs eyes CFA20 billion and CFA25 billion in cocoa export taxes in 2023

(Business in Cameroon) - The Cameroonian Customs Administration (DGD) is expecting the newly-introduced cocoa beans export tax to generate between CFA20 billion and CFA25 billion this year. "The export of raw cocoa beans is subject to an autonomous exit duty at a rate of 10% of the FOB value. This rate is 2% for cocoa beans exported to industrial free points or similar systems," the 2023 finance law states. This new provision stems from a presidential requirement contained in the letter on the preparation of the 2023 state budget signed on August 23, 2022, by the President of the Republic, Paul Biya. The leader prescribed in particular that the government should implement, as from 2023, "an export taxation policy that takes into account the real level of processing of goods", to "further encourage exports of finished manufactured made-in-Cameroon products.” Reliable sources reported that the taxation of raw beans export in Cameroon follows many complaints from grinders, most of ...