The government of Gabon has passed new laws that will come into effect in 2021 and will affect the forestry and timber sectors.
Timber products in Gabon are to be seriously affected by new tax laws in the country. Image credit: thenbs.com
The tax structure has been reset with the aim of encouraging processing for export. While this has not been verified reports suggest the export tax changes are as follows:
- Products that have undergone first processing will be subject to an export duty of 9%.
- Products that have undergone secondary processing will be subject to an export duty of 3%.
- Products which have undergone third processing will be subject to export duty of 1.5%.
For the purposes of this law, the following definitions are said to apply: First transformation: sawnwood, veneer, paper pulp, posts, products from stem forks and products from stumps. Second transformation: plywood, particleboard, fibreboard, pallets and railway sleepers.
Third transformation: mouldings, friezes, parquet flooring, glued strips, frames, doors, windows and frame parts, furniture and furniture parts.
