Cement News tagged under: taxation
Colombia's tax change may impact Argos valuation30 August 2021, Published under Cement NewsColombia's Congressional Economic Committees have voted in support of the tax change proposed by Iván Duque's government, a step that could impact the valuation of domestic cement producer Argos, according to a report by UBS. The project, also known as social investment, targets an additional COP15.2bn (US$3.97m) to the state purse and UBS research expects a 35 per cent increase in corporate taxes and a 38 per cent in financial sector taxes. While the tax change is expected to improve Colo... |
Pakistan's revenue collection autority to track tax evasion in cement industry10 January 2020, Published under Cement NewsPakistan's tax collection authority, Federal Board of Revenue (FBR), has decided to track and monitor the clearances of duties/taxes paid items from around 100 units of cement, sugar and fertiliser sectors under the automated Track and Trace System (TTS). The FBR has decided to bring 100 units of cement, sugar and fertiliser sectors under the automated TTS next month. According to media report, the implementation of the TTS will play a key role in curbing alleged tax evasion of billions of... |
Costa Rica to introduce 5% cement tax03 October 2019, Published under Cement NewsAll Costa Rican cement, whether produced within the country or imported, will produce a communal tax of five per cent, according to a bill that seeks to eliminate a distortion in the market. The tax is currently only applied to companies that produce cement in Guanacaste, Cartago and San José. This puts the product of two of the country’s three cement companies at a disadvantage when compared with with imported cement. The bill to bring the new tax is supported by President Carlos Alvarad... |
Afghan government cancels licence on country’s only cement plant10 February 2017, Published under Cement NewsThe Afghan Ministry of Mines and Petroleum has cancelled the licence to operate the Ghori cement plant, Reuters reports. The 0.4Mta plant, located in Baghlan province just north of Kabul, was originally state-run, but control was transferred to the private sector in 2006. Last year, ownership of the firm was transferred to Afghan businessman Javid Jaihoon. The government maintains that it was not informed of the change of ownership in advance, in breach of the licencing agreement. Auth... |
Dangote25 January 2017, Published under Cement NewsDangote Cement Senegal is one of three domestic cement companies, along with Sococim and Ciments du Sahel, to apply a new tax introduced by the Senegalese government. Effective 2 January 2017, the tax, which equates to XOF3/kg will increase the price of cement by XOF3000(US$4.92)/t. According to press reports, the move is part of the government’s efforts to reduce loss in income and follows a 25 per cent surge in cement exports in 2016. Dangote’s plant in Senegal, the largest in the co... |
Pakistan: APCMA calls for reduced taxes on domestic cement25 January 2017, Published under Cement NewsAll Pakistan Cement Manufacturers Association (APCMA) has asked the government to support the industry by placing anti-dumping duty on the Iranian cement and reducing taxes to make the cement more affordable for consumers, increasing the commodity's demand and the need for more capacity. The APCMA spokesperson said on Saturday that the domestic industry needed government’s support. He was of the view that in the current scenario, the suggestion given by some people that the import duty b... |
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