The export duty on ferrous scrap at the level of 30 euro per ton will bring Ukrainian budget the most revenues, says professor Alexei Smirnov.
He believes the increase of the export duty to 30 euro will both allow the export to survive and provide Ukrainian consumers with the possibility to meet their demands in accordance with the world market situation.
“At this level of export duty the state receives the most revenues, taking into account the domestic buying price, scrap procurement volumes and export”, says Smirnov. Scrap procurement depends directly on the domestic price, while export volumes with duties, as well as output volumes with taxes depend on procurement.
The current level of the ferrous scrap export duty is 10 euro per ton. (Ukrainian metal)