The Pakistani Ministry of Finance, Economic Affairs, Statistics & Revenue has announced that it is implementing a 25 percent value added tax (VAT) for companies exporting scrap copper, scrap aluminum, bars, ingots, slabs and billets.
The decision to impose the VAT, made by the Pakistan Economic Coordination Committee, was due to concerns over the availability of the scrap metal for domestic use.
The tax will run from March 13, 2010, through June 30, 2010. The agency says that at the end of June, it will review its position and a determination will be made whether to continue the VAT for financial year 2010-11.
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