Cement News tagged under: import tax

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Gambia raises tax on Senegalese imports

24 January 2019, Published under Cement News

Gambia has imposed a new import tax regulation on cement being imported from Senegal that has exacerbated the shortage of cement and increased prices in the country. Both the Commissioner General of GRA, Yankuba Darboe, and the Permanent Secretary at the Ministry of Finance, Mod Secka, confirmed that a cabinet decision was reached on the increment of excise duty on cement, imported from neighbouring Senegal. A five per cent excise tax was put on the CIF import value from 1 January 2019. Th...

Pakistan budget 2018-19 offers mixed incentives to cement industry

30 April 2018, Published under Cement News

Pakistan's Federal Minister for Finance, Revenue & Economic Affairs, Dr Miftah Ismail, presented the country's Federal Budget 2018-19 in the National Assembly on 27 April 2018. Analysts have termed the budget for cement industry "Negative to Neutral" although it provides a mixed bag of incentives for cement manufacturers and exporters. The government expects GDP growth of 6.2 per cent for FY19 as compared to 5.8 per cent for FY18. Industrial growth remains the major contributor at an estim...

Costa Rica considers imposing 5% cement tax on net sale price

09 March 2018, Published under Cement News

The Costa Rican Legislative Assembly is to discuss proposing a five per cent tax on imported and locally-produced cement. The bill establishes that "… the tax on cement produced within the national territory or imported, will be of five per cent (5%) on the net sale price, both in the case of the national producer at the level of the production plant and for the importer at the level of the dispatch or storage site, excluding the corresponding sales or value-added tax, as well as any other...

Central Congo cuts import tax by 50%

10 August 2016, Published under Cement News

The provincial government of Central Congo, Democratic Republic of Congo, has lowered import taxes for grey cement by 50 per cent from CDF3000 (US$3.15) to CDF1500 per 50kg bag. The step has been welcomed by importers who bring in Angolan product via the border post of Lufu. However, cement users have complained that the cut is not filtering through to end-users as they still pay CDF12,500 for a bag of cement. They have called for the government to revise the cement price, and are support...

Dem Rep Congo: import tax under consideration

11 May 2016, Published under Cement News

Following the announcement of Cimenterie de Lukala (Cilu) earlier this week that it plans to close due to “unfair competition”, the governor of Kongo-Central, Jacques Mbadu Nsitu, is considering a new tax on grey cement imports. He ordered his government to draw up the required legislation which is expected to protect locally-produced cement. At present, the price of a bag of cement in Matadi is between US$7-7.50 for Cilu product while in the border town of Lufu, imported cement trades be...