The Industrial Union of Donbass corporation calls unto the Cabinet of Ministers, the Ministry of Finances, the State Fiscal Service and the Ministry of economy to pay attention to the catastrophic conditions of VAT reimbursement.
“Last time VAT was reimbursed in November 2016. As of today the state debt to Dneprovsky Iron and Steel Works is 1.4 billion UAH, and taking into account the declarations that are now being studied, it’s 2 billion UAH”, the company reported.
ISD also reports the multi-million losses because of the railroad blockade in Donetsk and Lugansk regions.
As of February 20, being idle for 7 days the corporation shows the following negative results:
– Alchevsk Iron and Steel Works was not able to supply steel slabs to European customers valued at $13.8 million.
– Alchevsk Iron and Steel Works was not able to ship $7.4 million worth of rolled metal.
– Alchevsk Iron and Steel Works was not able to purchase raw materials, goods and services from Ukrainian suppliers for the total amount of 648.4 million UAH, including 108.1 million UAH of VAT.
– Dneprovsky Iron and Steel Works was not able to deliver 54.7 thousand tons of square billets to foreign markets valued at $20 million.
– Dneprovsky Iron and Steel Works was not able to purchase raw materials, goods and services from Ukrainian suppliers for the total amount of 549.7 million UAH, including 91.6 million UAH of VAT. (Ukrainian metal)