Russian steelmakers support zero VAT on scrap

During the fourth annual meeting of the Russian Scrap-processing Industry Coordination Union, which was held in Moscow on October 26, the major Russian steel producers supported the initiative of the union to introduce changes to the Russian tax code, in particular as regards zero VAT on scrap sales. As was previously reported by SteelOrbis, earlier this year the Russian government had exempted scrap collectors from VAT payment. However, the measure was not compulsory. The scrap collectors were able to choose whether or not to pay VAT on scrap. The notion introduced by the union is intended to add a compulsory character to the law enforced by the government.