Oilseeds: 40% to fall in refiners’ tax revenues

Jacquis Kemleu Tchabgou, Secretary General of the Association of Oilseed Refiners of Cameroon (ASROC), has revealed that oilseed refiners'revenues are expected to decrease by 40% (about FCFA 50 billion).

Operators stated that the sector is paying for about FCFA 120 billion in revenue each year to the State of Cameroon, under various taxes. Asroc added that two major facts are behind this decline in tax and customs revenues provided by the oilseeds sector.

This is the first drop in activities for refiners because of insecurity in the East and the Far North Regions, which prevents the export of products to Chad and Central African Republic.

There was also the invasion of the Cameroonian market by imported products, often from smuggling. This situation, according to ASROC, has already resulted in the closure of three production units in the city of Douala, with the key to many job losses.