Russian nonferrous scrap prices seen dropping if VAT relief OK'd

Oct 25, 2005 | 12:40 PM | Josephine Mason

Russian nonferrous scrap companies could be exempt from paying value-added taxes (VAT) beginning Jan. 1 if proposed legislation is approved by the government, according to Ildar Neverov, director of Torgmet Ltd., a Moscow-based nonferrous scrap processor.

The move is expected to cause nonferrous scrap prices in Russia to decrease by as much as 18 percent, he told delegates attending the Bureau of International Recycling's fall conference in Milan.....





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