Cement Customers to get direct benefit of Tax Reductions

April 19, 2024

political Current Affairs

Cement Customers to get direct benefit of Tax Reductions

December 10, 2019

Tokyo Cement Group announces that they will directly pass on the benefit of the recently announced Tax Reduction by the Government, to all their customers. Tokyo Cement Group, the country’s largest manufacturer and supplier of cement, made this announcement following the government’s decision to remove the Nation Building Tax (NBT) and reduce the Value Added Tax (VAT) from 15% to 8%.

This reduction in price will be applied on all cement brands of Tokyo Cement with immediate effect, and will result in the customers gaining a greater cost benefit. Tokyo Cement products include the Country’s most popular brands TOKYO SUPER and, NIPPON CEMENT, which together hold the largest share of the cement market. NIPPON CEMENT PRO, on the other hand, is the only cement in Sri Lanka specially formulated to produce concrete that can reach the highest strength grades for high-risers and super structures.

The tax revision which came in to effect from 1st December, is a welcome boost to the construction industry of Sri Lanka which is currently on a significant growth trajectory. Passing on this benefit directly to all customers, both individual consumers as well as commercial users, will encourage this growth momentum and benefit the entire industry.

Tokyo Cement has earned its reputation in Sri Lanka’s construction industry as the most trusted supplier of high-quality cement and concrete used in projects that mark Sri Lanka’s growth. The company has cemented its legacy as a partner in nation building and the undisputed market leader in Cement and Concrete in Sri Lanka.