Posted on 25/11/2008 in category Ferrous

 

Bureau of International Recycling

Theworld federation of recycling industries


 

BIR welcomes Russia’sabolishment of VAT and import tax on steel scrap

TheBureau of International Recycling welcomes the fact that the Russiangovernment has recently suspended import duties on ferrous scrap, whichformerly were of 5%, for a period of 9 months.

Also,the Russian Duma has cancelled VAT on operations with steel scrapto prevent fraud, which market participants believe to be a healthymeasure forthe domestic market as well as for export activities. This measure willcomeinto force on 1st January 2009. 

BIRcontinues to fightagainst any form of trade barrier that could jeopardize the freemovement ofraw materials across borders and insists on the importance of freeaccess toraw materials worldwide.