Wednesday, 16.10.2019
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Information for private entities Print

             

      According to the Law "On Personal Income Tax", currently there are no restrictions regarding the amount of sold scrap metal, as well as the income gained from the transactions with scrap metal for private entities.
This means that a private entity can regularly conduct business with scrap metal and private entity’s income from sales of scrap metal is not classified as economic activity. Therefore, it is unnecessary to register their business activities at the State Revenue Service and to submit the annual report. Only the company engaged in the procurement of scrap metal under a license shall be responsible for transactions with private entities, and in accordance with the law the company shall be required to pay the income tax in the amount of 10% of the sum of the purchased scrap metal into the State budget.

We look forward to seeing you at our scrap metal receiving centres! 


Sincerely, SIA "FERO M"
Administration


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