Ukrainian president enacts bill annulling 5% duty on imported scrap metal
Ukrainian President Petro Poroshenko has enacted a bill annulling 5% duty on imported scrap ferrous metals. The document amends the law on the customs tariff, according to a posting on the parliament's website.
The law amending the law on the customs tariff of Ukraine aimed at curbing a shortage of scrap ferrous metal on the domestic market to satisfy the needs of defense industry and restore infrastructure was returned to the parliament with the president's signature on November 4.
The document passed by the parliament on October 5 sets nil rates for duties on imported scrap ferrous metal instead of 5%.
Chairman of the parliamentary committee for industrial policy and entrepreneurship Viktor Halasiuk said that the revoking of 5% duty on imported scrap metal is the second part of the package to support the country's mining and metal complex.
"We have made a strategic step after increasing the duty on exported scrap metal from EUR 10 to EUR 30. The law is in effect now. This is actually the second part of the package – to fully lift imports duty on scrap metal," he said.