July 04, 2019
In Côte d'Ivoire, the executive adopted yesterday, in the Council of Ministers, an order granting new fiscal incentives to actors in the cashew processing sector.
Images by IT
In detail, operators will see the exemption of customs duties and VAT on purchases of equipment and spare parts, made as part of their investments, over 5 years.
Over the same period, these players will also benefit from " the granting of tax credit to businesses, business development, by the expansion or modernization of existing facilities ".
These provisions are part of the authorities' objective of achieving a 50% transformation of the cashew nut crop in the long term, compared with less than 10% in 2017.
In 2018, the government announced a processing bonus and a 15% allocation of the total cashew harvest to local processing operators.
Ivory Coast aims to transform in 2019, 130,000 tons of cashews. This volume represents approximately 18% of the expected harvest for this season (730 000 tonnes).
Hope Olodo
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