Share this story!            

Pakistani cement highest taxed in the world: APCMA

KARACHI: Increase in taxes has made Pakistani cement the highest taxed cement in the world, Chairman All Pakistan Cement Manufacturers Association (APCMA), Aizaz Mansoor Sheikh said. He said that excise duty has been increased from Rs 750 per tonne to Rs 900 per tonne along with additional excise duty of 1 percent. Increase of General Sales Tax from 15 percent to 16 percent has increased the menace of double taxation as General Sales Tax is charged on excise duty paid value. He urged government to review decision of increasing cement prices, which would have detrimental effect on development of houses and infrastructure. He further said that all the previous governments were committed to abolish the excise duty gradually, but this increase has come as shock to the cement sector. staff report

Home | Business

Share this story!