Cement cess slashed extending relief to construction industry

Monday, 9 September 2024 03:11 - - {{hitsCtrl.values.hits}}

The Government yesterday announced that the cess imposed on imported cement was reduced by Rs. 1 per kilogram to extend relief to the construction industry.

This levy reduction is in effect from 6 September, as per the Finance Ministry.

Accordingly, the tax on artificially coloured or white cement now stands at Rs. 4 per kilo, down from Rs. 5, while the cess on cement imported in packages of 50 kg or less was reduced from Rs. 8 to Rs. 7.

The directive was made by virtue of the powers vested in President Ranil Wickremesinghe as the Investment Promotion Minister under Section 14 of the Sri Lanka Export Development Act, No. 40 of 1979, with the concurrence of the Finance, Economic Stabilisation and National Policies Ministry.

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