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The government supported the abolition of VAT on the sale of recyclable materials

The government supported the abolition of VAT on the sale of recyclable materials
Photo: pixabay.com

Deputy Prime Minister Victoria Abramchenko supported the initiative of the Ministry of Natural Resources to reduce VAT on the sale of secondary materials that are subject to recycling. Such measures should help the development of segregated waste collection.

As they write "News”, Innovations may concern scrap metal, plastic, waste paper, glass and rubber crumb. VAT may be reduced from the current 20% to 10%. The final proposals of the Ministry of Natural Resources and the Ministry of Finance should be developed by September 28.

If the proposals are accepted, then for those who collect, sort, transport and store the waste VAT will be zeroed. And converters will be able to apply a tax rate of only 10%. This should interest converters in using recyclable materials and entering the domestic market with them. Now in Russia only 7% of waste is disposed of in this way.

 

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