Here is how we begin our MECHANIZATION REVOLUTION:
An African Revolution: if agricultural mechanization equipment is sent to an African country, like Ivory Coast, it has a value of $200,000 if it was brand new. The nearly new equipment has a real value of $100,000 hypothetically. The agricultural equipment dealer or farmer working with the dealer receives a tax refund benefit at the rate of the last $1000 owed to the government; say 30% of 100,000 or $30,000 from Living Water MicroFinance Inc., a non-profit company.
The new owner, Living Water MicroFinance Inc., will sell the equipment in question in Africa and will feel indebted to the previous owner, the equipment dealer or the farmer. This indebtedness will be 50% of the net selling price. This indebtedness will be resolved in our hypothetical example, by the purchase of additional new equipment from the dealer.
If a farmer were to donate his or her used equipment there would be a large tax refund receipt and a cash credit from a third party, Coop Eau Vivante in Africa to a dealer of his or her choice or some other similar arrangement.
More important there will be a real contribution to poverty and famine in an underdeveloped country. We are talking about increased needed efficiency in the agricultural field, which will lead to more employment as well.
Since the need for this equipment is so high, the equipment will enter duty free and since this equipment will be sent to Africa, copies of bill of lading will be made available to the dealer or farmer. We are presently interested in exporting to Cote d’Ivoire.