November 29, 2017 4:22 pm

Image: Loaves of Bread

It was initially planned that the price of wheat was to witness a slight increase as from January 2018.

Going through the 2018 Finance bill that the government tabled to parliamentarians last Monday November 27, 2017, Business In Cameroon noticed that the fiscal disposition which stipulated that 5% should be taxed on the importation of wheat as from January 2018 was ejected.

The move we are told follows instructions given by the President of the republic through the Secretary General at the presidency of the republic Ferdinand Ngoh Ngoh in a letter dated November 20, 2017 asking the Prime Minister’s office to remove the said provisions.

It’s then predicted that if the 5% tax increased had been implemented the price of a loaf of bread or any other product manufactured with wheat would have witnessed a soar hike.

Leave a Reply

Your email address will not be published. Required fields are marked *