Russia should lift import duties on scrap with precious metals

MOSCOW, Oct 11 (PRIME) -- Russia should cancel duties and value-added tax (VAT) on imports of scrap raw materials containing precious metals in order to attract up to 100 tonnes of precious metals per year to the country, President of the Chamber of Commerce and Industry Sergei Katyrin told PRIME on Wednesday.

"We suggest ending the import duties and VAT for imports of secondary and mineral raw materials to the territory of Russia without a time limit in order to load the production capacities," Katyrin said.

He said that the duties for the raw materials stand at 12–15%, which exceeds the duties on ready jewelry products of 10% violating the principle of tariff increase in the production chain.

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