Cameroon launches tax recovery operation in the gold sector
Cameroon has launched a wide-scale operation aimed at recovering approximately $680 billion in tax and customs revenues from the production of some 17 tonnes of gold.
It’s part of government plans to step up controls at mining sites and introduce minimum delivery thresholds.
These new measures will also see improved monitoring of the various stages of ore recovery and strengthen production traceability.
The crackdown comes amid discrepancies between the volumes of gold produced and the amounts declared by companies – potentially costing the state billions in lost tax revenue.
It said the operation will target operators active in the East and Adamaoua regions, with the state saying it aims to regain control of its gold sector.
The announcement comes as it seeks to enhance contribution of mining to the country’s economic development.
Cameroon’s mining sector has faced recurring criticism over the low revenues generated from the extraction of the precious metal.
