Tokyo Cement customers to get direct benefit from tax reductions

Thursday, 12 December 2019 02:48 - - {{hitsCtrl.values.hits}}

Tokyo Cement Group announced that they will directly pass on the benefits of the recently announced tax reductions 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 to all cement brands under 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 on 1 December, is a welcome boost to Sri Lanka’s construction industry, 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.