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N e w s
FEBRUARY 13
Members of Round Table in State Duma Suggest the Government Should Ban Taxes on Refined Silver in Bullions
Members of round table on "Legislative Problems in the Domain of Manufacturing, Exploitation and Circulation of Precious Metals, Taken from Reused Resources, Utilized Military Reserves and Military Equipment" that was held today at State Duma Recommend Government of the Russian Federation to ban tax duties on refined silver in bars. This is important in order to increase volumes of secondary resources reprocessing, silver-containing resources.
Government of the Russian Federation recommended to prolong the Decree of January 24, 1994 "On Import and Export Procedure of Precious Metals, Gemstones, Amber and Goods of Amber in the Russian Federation" until the Same Decree of President of the Russian Federation.
Besides Cabinet of Ministers is offered to set a procedure of price-setting when buying precious metals for the State Fund of Russia at the expence of Federal Budget and pass a decree setting licence procedure for precious metals containing scrap production. As stressed in 2000 there was a serious decline in silver production. As a result budget neither got the duties nor the taxes from silver producers. On the whole, according to the figures of Committee on Natural Resources of State Duma, indirect losses amounted not less than $4 mln.
The materials prepared for round table prove the fact that the current legislation "On precious metals and gemstones" is not followed. Even the licencing procedure of scrap processing is not yet set.
Source: AK&M
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