The government addresses gold export irregularities to boost state revenues
The core issue revolves around the illegal export or smuggling of gold, directly translating into significant losses for state coffers. According to existing legislation, all applicable taxes and duties must be meticulously collected at the point of origin before any gold export takes place.
In response, the government, through the Ministry of Mines, Industry and Technological Development (MINMIDT), has initiated comprehensive restructuring and remediation efforts. These include launching fiscal and customs recovery operations, both domestically and internationally. The primary objective is to reclaim outstanding amounts owed to the state by various operators, specifically covering the period from 2023 to 2025.
The internal recovery process, set to commence on August 1st, will be spearheaded by a joint team comprising representatives from SONAMINES, the Directorate General of Taxes (DGI), and the Directorate General of Customs (DGD). This initiative aims to recoup lost revenues stemming from under-declarations and non-declarations, which have resulted in either insufficient or entirely absent tax collection by SONAMINES from companies operating within Cameroon. Two distinct categories of companies have been identified in this regard.
The first group consists of fifty-one (51) companies that engaged in physical gold extraction, employing traditional methods, and whose declarations were found to be significantly understated. The second category, recently uncovered by MINMIDT in the field, involves thirty-three (33) sites utilizing newer gold extraction technologies, where production has never been declared or subjected to tax collection. These concerted recovery efforts are projected to generate at least three hundred billion (300 billion) FCFA in the short term, effectively offsetting the approximately 165 billion FCFA in revenue losses highlighted by the 2023 ITIE report.
Furthermore, external recovery initiatives will involve collaboration with the Emirati Government. This partnership aims to compile a comprehensive list of individuals and corporate entities that exported gold from Cameroon between 2023 and 2026, with the objective of recovering hundreds of billions of FCFA in outstanding tax revenues.
Ultimately, these dual internal and external fiscal and customs recovery strategies are designed not only to compensate for past revenue shortfalls but also to establish a robust and efficient collection system for the future. This new framework includes engaging an international expert company and implementing direct tax and customs administration collection at the source, working in conjunction with SONAMINES. The MINMIDT communication unit emphasizes that the full implementation of this restructuring will ensure that discrepancies in gold export declarations are eliminated, irrespective of the individuals or companies involved, provided all due payments to the state are made.
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