The State Duma has adopted in the second reading the draft decree on imposing a zero rate of VAT on companies that extract precious metals from scrap or wastes without a license and then sell them to the State Fund, banks and the Central Bank.
According to an explanatory note to the document, the tax services apply the zero rate only to companies that have licenses. Other companies that extract precious metals but have no license are taxed with VAT.
At the same time, according to the current decree “On licensing of some types of activity” license for the manufacture of precious metals of scrap and wastes is not given.
The authors of the draft decree believe the document can remove the arbitrary interpretation of the usage of the zero VAT to the companies extracting precious metals from scrap and waste. (Ukrainian metal)
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