Displaying items by tag: exemption

Cambodia: The government has waived the 5% tax on domestic cement products from January 2025 to December 2026 to support the local cement industry, as announced by the Ministry of Economy and Finance.

The exemption reportedly aims to alleviate financial burden on the industry and promote growth. Local cement companies must comply with obligations including tax filings, maintaining comprehensive records and submitting annual reports detailing production, costs and social initiatives.

To date, Cambodia’s cement industry has attracted over US$1.2bn in investments, creating more than 2700 jobs and ‘significantly’ contributing to the economy, according to Construction & Property news.

EU: Cembureau has welcomed the European Commission (EC)’s proposal for consultations on setting up a carbon border adjustment mechanism (CBAM) for imported goods including cement, and set out a number of ‘design principles’ that it says ‘should apply’. According to Cembureau, a CBAM ought to be: complementary to EU emissions trading scheme (ETS) free allowances (in the initial phase) and World Trade Organisation (WTO) compatible, based on importers’ verified emissions, including indirect emissions, applicable to all ETS sectors and capable of providing a CO2 charge exemption for EU exporters.

The EC has said that it will present a final proposal for a CBAM by mid-2021.