Cement News tagged under: tax
Dangote Ghana’s biggest taxpayer of 201620 January 2017, Published under Cement NewsThe Ghana Revenue Authority has recognised Dangote Cement as being the single largest taxpaying entity in the country, Business Ghana reports. The firm paid taxes and duties totalling GHS150m (US$35.5m) over the past year. “The payment of our taxes demonstrates our commitment to making a significant contribution to the growth of Ghana’s economy. We are looking at continuing this feat in future by expanding our operations to meet the needs of our customers in the country and creating mo... |
Senegal: government introduces new tax on cement06 January 2017, Published under Cement NewsAs of 2 January, the price of cement in Senegal has increased by XOF3000 (US$4.84)/t. The Senegalese government has implemented a new tax of XOF3/kg on cement. The tax will be applied by all three domestic cement companies - Sococim, Ciments du Sahel and Dangote Cement Senegal. It is part of the government’s efforts to reduce loss in income, according to the Senego news service. Sellers are expected to pass on the new tax to customers.The Consumers Association of Senegal has expressed ... |
Nigeria: removal of cement tax incentive12 August 2016, Published under Cement NewsThe removal of pioneer status tax incentive for the cement industry has caused concerns for operators in the real sector, who feel the development will send the wrong signal to investors. The issue was raised by the President of Manufacturers Association of Nigeria, Dr Frank Jacobs, with the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, at a recent stakeholders’ meeting. Dr Jacobs said, “The news of government withdrawing the pioneer status tax incentive enjoyed by th... |
Pakistan: producers warn that tax increase will encourage smuggling26 July 2016, Published under Cement NewsThe All Pakistan Cement Manufacturers Association (APCMA) has warned that the decision to impose an additional excise duty imposed in this year’s federal budget 2016-17 could lead to a rise in smuggling of cement from Iran. The Nation reports that the Pakistani cement industry lost 1Mt in sales due to Iranian cement being smuggled into coastal areas. The APCMA criticised what it said was a lax regime of border controls and called on the government to act. Cement producers in Pakistan n... |
Pakistan: Lucky Cement highlights its social impact18 July 2016, Published under Cement NewsThe largest Pakistani cement manufacturer, Lucky Cement, has highlighted the contribution its operations have made to their locality and the country’s economy reports the Daily Times. Lucky Cement has pointed out that in 2014-15 it paid the government more than PKR7bn (US$67m) in sales and income taxes and generated PKR14bn (US$134m) in foreign exchange. In addition, the company has undertaken a programme to provide clean water supplies to residents of Pezu, its base of operations, whi... |
Pakistan: cement dispatches rise 10.6% YoY in year to May 201608 June 2016, Published under Cement NewsCement dispatches in Pakistan totalled 35.5Mt in the period July 2015 to May 2016, up 10.55 per cent on the corresponding period of last fiscal year, the All Pakistan Cement Manufacturers Association (APCMA) has announced. The APCMA reports that the growth in consumption is solely due to higher domestic demand. Overall domestic dispatches from plants in northern Pakistan increased by 16.6 per cent to 24.7Mt. Dispatches from southern plants rose more quickly – by 23.7 per cent – but volume... |
Pakistan: new federal budget to increase cement demand02 June 2016, Published under Cement NewsPakistan’s new federal budget, set to be announced in the next few weeks, looks set to provide a fillip for the country’s cement producers by boosting demand. Through the federal and provincial Public Sector Development Programmes (PSDPs) the government has allocated PKR1675bn (US$16bn) for infrastructure projects, including roads and dams. However, the budget might also change the way in which Federal Excise Duty is applied to cement. Currently the tax is levied at five per cent of retai... |
Nigeria: Dangote majority contributor to solid mineral revenues26 May 2016, Published under Cement NewsThe Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that Dangote paid NGN15.9bn (US$80m) in taxes on solid minerals in 2013, more than the rest of the industry combined, Vanguard reports. The NEITI report showed that in 2013 the government of Nigeria received revenues of NGN33.86bn (US$170m) in taxes on solid minerals, to which Dangote paid 53 per cent. In all, five cement companies – Dangote, CCNN, Ashaka, Unicem and WAPCO (the last three all owned by LafargeHo... |
Aalborg welcomes decision to phase out NOx tax08 October 2015, Published under Cement NewsFollowing Denmark's Budget 2016 announcement, domestic cement producer Aalborg Portland has “warmly” welcomed the government's decision to phase out the NOx tax from 1 July 2016. “It is indeed very good news and a very positive message for us as energy-intensive business that the Government proposes a removal of a Danish special fee which none of our competitors are subject to. It is a strong signal that the Government has confidence in the investment climate in the energy-intensive produc... |
Chile: Cemento Polpaico to pay US$14.6m in back-taxes03 September 2015, Published under Cement NewsCemento Polpaico reported that the Chilean tax office (SII) has ordered the cement producer to pay U$14.6m in back-taxes for the years 2012 and 2013. Liquidations have led to US$7.2m outstanding with the country’s revenue authorities, with adjustments, interest and fines by SII increasing the amount payable to US$14.6m. Polpaico indicated that it believes the adjustments are unfounded and incorrect and is expected to complain to the relevant tax authorities. |