Local News Update: Tokyo Cement Group announces that they will directly pass on the benefit of the recently announced tax reduction by the government, to all their customers. Tokyo Cement Group, the country’s largest manufacturer and supplier of cement, made this announcement following the government’s decision to remove the Nation Building Tax (NBT) and reduce the Value Added Tax (VAT) from 15% to 8%.
This reduction in price will be applied on all cement brands of Tokyo Cement with immediate effect and will result in the customers gaining a greater cost benefit. Tokyo Cement products include the country’s most popular brands TOKYO SUPER and, NIPPON CEMENT, which together hold the largest share of the cement market. NIPPON CEMENT PRO, on the other hand, is the only cement in Sri Lanka specially formulated to produce concrete that can reach the highest strength grades for high-risers and super structures.