05 October 2011 16:12 [Source: ICIS news]
From October 5, imports of equipment, including spare parts, to produce emulsion and suspension polyvinyl chloride (PVC), vinyl chloride monomer (VCM), caustic soda and chlorine are exempt from VAT if similar equipment is not produced in Russia, said the government.
The regular rate of Russian VAT is 18%.
The exemption is intended to support projects, notably the €750m ($1bn) PVC plant being built by RusVinyl in Kstovo, Nizhny Novgorod region,
The Kstovo plant will produce 330,000 tonnes/year of PVC and 235,000 tonnes/year of caustic soda.
RusVinyl is parity-owned by SIBUR and SolVin, which is owned by Belgium’s Solvay (75%) and Germany’s BASF (25%).
($1 = €0.75)
For more on VCM, PVC and caustic soda, visit ICIS chemical intelligence
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