View Kamer

Cameroon Forgoes CFA9B+ in Taxes to Support Renewable Energy Projects in 2024-2025


(Business in Cameroon) – Cameroon has forgone over 9 billion CFA francs in tax revenue over two years on materials and equipment for renewable energies, particularly for drinking water production and solar power. According to the figures, these exemptions amounted to 3.7 billion CFA francs in 2024 and 5.3 billion CFA francs in 2025.

The data was provided by Finance Minister Louis Paul Motaze, who faced questions from lawmakers during the National Assembly’s November session. The minister explained that tax expenditures represent revenue the state did not collect because it granted exemptions. The stated goal is to promote green energy through indirect state support aimed at reducing electricity and drinking-water shortages.

Since 2024, the government has granted tax exemptions on imports of equipment and materials used for drinking-water production and renewable energy. The measure, set out in Article 5 of the 2024 finance law, covers around thirty products used in drinking-water systems, solar-energy installations and in the health, livestock and fisheries sectors. It is set to run for two years.

Motaze said the policy is already having an impact. “As a positive consequence of these exemptions, we are seeing lower selling prices for imported equipment and materials, because importers are required to sign agreements committing them to pass the tax savings on to consumers,” he told lawmakers.

Ludovic Amara





Source link

View Kamer

FREE
VIEW