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%
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 Francais (together holding 30% of the market); French cement companies Lafarge (20%) and Cemex (10%), and the Greek group 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%.
