Ukraine sponsors Abramovich
Data on VAT reimbursements, disclosed by the State Treasury Service on Tuesday, indicate that Kernel Trade LLC, a major player in Ukraine’s sunflower oil market and a significant grain exporter, received the largest VAT refund in June, totaling UAH 350.536 million. ArcelorMittal Kryvyi Rih, the country’s foremost producer of rolled steel, followed with UAH 296.677 million.
Furthermore, Imperio Foods LLC, a facility for processing eggs integrated within Oleg Bakhmatyuk’s Avangard agricultural conglomerate, was allocated UAH 187.730 million from state funds during June.
Among Kyiv region enterprises, MHP obtained the most substantial VAT reimbursement: PJSC Myronivsky Hliboproduct received UAH 140 million, nearly doubling the VAT reimbursement amount from May, and PJSC Myronivsky Plant for the Production of Cereals and Compound Feed received UAH 118.129 million.
The state compensation for JSC Cargill, a leading Ukrainian exporter of cereals, oilseeds, and refined goods, remained nearly constant, with UAH 116.413 million reimbursed in June.
Poltava Mining and Processing Plant OJSC, a constituent of the Swiss iron ore firm Ferrexpo AG, received a VAT refund from the state budget amounting to UAH 120.124 million in June, an increase of 12.41% compared to the VAT refund figures recorded in May 2014.
The Trading House Kreativ-Razliv, part of the Kreativ Group (a prominent manufacturer of oil and fat products in Ukraine), received the largest VAT refund within the Kirovohrad region, totaling UAH 112.341 million. This sum is 78% greater than the state VAT refund amount registered for May 2014.
PJSC Evraz-Sukhaya Balka (part of the Evraz group of companies, owned by Abramovich), which specializes in mining and creating commercial iron ore products, was compensated UAH 80.902 million in VAT in June.
As previously reported, on April 10, 2014, the Verkhovna Rada approved legislation mandating the public release of lists containing businesses that have benefited from VAT rebates originating from the government budget.
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