The state Duma adopted in the third reading a law exempting from VAT the implementation of waste paper, the correspondent “of Rosbalt”.
Under the waste paper refers to paper and cardboard production wastes and consumption, waste and obsolete paper, cardboard, printing products, business papers, including documents with expired period of storage.
Today the market of collection of waste paper is in decline, which has a direct impact on the entire pulp and paper industry, noted in the explanatory note to the document. At the same time in 2013-2015 the cost of waste paper increased by 60%. The situation is aggravated by the devaluation of the ruble, which caused a further reorientation of the supply of waste paper from the domestic market for export.
A similar situation was before the 2008-2009 market of scrap and waste of ferrous and non-ferrous metals. Then the realization of this production was exempted from VAT collection, which helped to attract new investment, say the authors of the project.
According to them, the release of waste from implementation of the VAT will allow to increase collection of VAT from sales of finished products manufactured from waste paper; to reduce losses of the budget from the VAT refund upon export of waste paper, as well as to reduce to zero the budget losses from the evasion of this tax.
When finalizing the draft law, the deputies adopted an amendment on which tax credit will be temporary and valid until 31 December 2018.
