Cabinet specifies scrap metal transactions with 0 value-added tax

The Ukrainian cabinet has defined a list of scrap ferrous and nonferrous metal transactions that will have a zero VAT in 2011-2013, in particular, imports.

The list is stipulated in cabinet resolution No. 15 of January 12, 2011, according to which foundry iron scrap and stainless and alloyed steel scrap would have a zero VAT rate.

In addition, nonferrous metal were included in the list, in particular, scrap copper and zinc, copper alloys, unalloyed nickel, nickel alloy, scrap aluminum, zinc and tin, untreated tungsten, molybdenum, tantalum and magnesium.

VAT will not be imposed on scrap magnesium, magnesium powders, scrap cobalt, bismuth, cadmium, titanium, zirconium, manganese, beryllium, chrome, germanium, vanadium, thallium and cermet.