Finance Ministry ready to consider ban on tolling - Kudrin
KRASNOYARSK. Feb 18 (Interfax) - The Russian Finance Ministry is ready to consider a possible ban on tolling [give-and-take processing], a scheme employed most widely in the aluminum industry, but believes would have a number of negative consequences.
"Let's return to that [tolling scheme]," Deputy Prime Minister and Finance Minister Alexei Kudrin said at the Krasnoyarsk Economic Forum. "There are pros and cons to consider. Let's analyze it once more," Kudrin said in response to a question from a forum attendee.
A ban on tolling has been discussed with varying intensity since the mid-1990s, he said. However, no decision on the issue has been forthcoming.
Tolling is classified as the export of services and is not subject to payment of VAT for importing raw materials. Any customs and VAT payments that have been made are refunded as soon as the finished product is sent back across the border.