Pakistan tax body looks forward to contributions from cement bonanza

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Pakistan: Tax bodies are expecting to see a jump in revenue in the 2016 – 2017 financial year from cement producers as Chinese-funded infrastructure starts to be built. The Large Taxpayers Unit (LTU) in Karachi, the largest revenue-collecting arm, estimates that it will tax producers US$114m in the 2016 – 2017 financial year, according to the News International newspaper. A study by the LUT said that growth would arise from increases in sales tax and federal excise duty following the start of projects worth US$46bn from the China-Pakistan Economic Corridor.

Cement sales have risen by 8.3% year-on-year to 8.98Mt in the first quarter of the local financial year. This follows a 17% rise in domestic sales to 33Mt in the 2015 – 2016 financial year.

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URL: https://globalcement.com/news/item/5535-pakistan-tax-body-looks-forward-to-contributions-from-cement-bonanza

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