The State Tax Administration of
Ukraine (STAU) has initiated the cancellation of VAT collection on
scrap for
scrap collectors.
Alexander Kireev, the head of the STAU commented that yearly Ukrainian budget is losing approximately UAH 300-400 million (approx. $60-80 million) due to rebate of VAT to illegal exporters of
scrap.
He believes that the cancellation of VAT collection on
scrap would be able to increase the transparency of the
scrap market in
Ukraine.