Section 5, The Finance Act, 2021

Section 25A of the Forestry Act 1988 is amended byrepealing and replacing that section with the following new section - 25A. An exporter of timber log, timber and timber products shall pay to the National Revenue Authority a timber royalty of $3,000 per any 33.2 cubic metres before he exports any timber log, timber and timber products excluding furniture, edge glue boards, plywood and wooden transmission poles from planted forests. THE INCOME TAX ACT 2000