Government revenue from exporting scrap metal tripled, - head of Parliamentary committee

Source : 112 Ukraine

According to Halasiuk, the law envisaging taxation should be prolonged
20:53, 19 February 2018

Ukrainian budget received three times more on the export of scrap metal ($12,6 million instead of $4,1 million) in the year of the increased taxation of exporting it from Ukraine, head of the Parliamentary committee on industry Viktor Halasiuk wrote on Facebook.

“The consequences of our and Oleh Liashko’s “metallurgical law” on increasing the export taxation on scrap metal by three times are very positive. The state budget revenue on exporting scrap metal has tripled from $4,1 million to $12,6 million,” he wrote.

Related: Metinvest proposes ecological modernization of 2nd largest metallurgical enterprise

At the same time, he noted that the deficit of scrap metal for Ukrainian metal plants decreased by 40%.

Until 2016, Ukraine experienced a serious deficit of scrap metal that caused the Ukrainian enterprises to downsize or stall. There are export taxes for scrap metal now, but their effect is to come to an end soon.

Related: Role of government authorities in support of Ukrainian metallurgy is critically important

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