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. Last Updated: 07/27/2016

Tolling Move Opposed

MOSCOW -- Most of Russia's aluminum producers have slammed Tuesday's decision by a government task force to recommend the abolition of internal tolling and to curtail external tolling, Interfax reported Wednesday.

In tolling, a Russian smelter will process imported Russian ore and ship the end product abroad. Until now the practice, which had been particularly widespread in the aluminum industry, has carried VAT exemptions on exports. If the task force's proposals go through, the smelters will have to pay VAT, which they would get back at a later stage, beginning next year.

Interfax quoted Vladimir Skornyakov, managing director of the Moscow office of Siberian-Ural Aluminum Company, as saying the abolition of internal tolling would throw the aluminum industry back years.