Egypt considers 5% tax on cement sales

The Egyptian state is considering imposing a 5% tax on cement sales, instead of the present taxes of €0.28 per tonne. The proposed tax comes at a time of growing deficit in the country. Italy-based Italcementi, which owns Ciments Français (together holding 30% of the market); French cement companies Lafarge (20%) and Cemex (10%), and the Greek group Titan (15%) would be the companies most affected by the taxes, say sources. The Egyptian government is also considering eventually raising the tax from 5 to 10%

Quarry Products / April 2, 2012

The Egyptian state is considering imposing a 5% tax on cement sales, instead of the present taxes of €0.28 per tonne.

The proposed tax comes at a time of growing deficit in the country.

Italy-based 726 Italcementi, which owns 1508 Ciments Francais (together holding 30% of the market); French cement companies 725 Lafarge (20%) and 643 Cemex (10%), and the Greek group 719 Titan Cement (15%) would be the companies most affected by the taxes, say sources.

The Egyptian government is also considering eventually raising the tax from 5 to 10%.

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