Ukrmetallurgprom and Vtormet have initiated changes to legislation to lead the scrap market out of the shade.
“We have just signed the letter to the prime-minister Vladimir Groysman on legislation initiatives. They will make the scrap market more clear”, the Ukrmetallurgprom president Alexander Kalenkov said.
In particular, the changes propose the cancellation of VAT in scrap trade, income tax for persons procuring scrap and the identification of the scrap procurer.
All this will help take a part of scrap-procuring companies out of the shade. At present most companies don’t show acquisition of scrap from persons to avoid problems with the tax service. (Ukrainian metal)