Ukraine: coal deals to be free from VAT
The Ministry of finances, the State Fiscal Service and the state enterprise Energorynok have settled the changes to the rules of VAT-taxing of coal and electricity supplies.
The Ministry of finances, the State Fiscal Service and the state enterprise Energorynok have settled the changes to the rules of VAT-taxing of coal and electricity supplies.
“The mine with the project capacity of 900 thousand tons would this year yield over 1.5 million tons of coal”, said DTEK Pavlogradugol CEO Sergey Voronin.
Coal deliveries have been renewed and Ukraine can now increase its stocks by 20-30 thousand tons per day.
From September 28 to October 4 DTEK increased its thermal power stations coal stocks by 100.6 thousand tons: that week they received 451.5 thousand tons of coal and used 350.9 thousand tons to produce electricity.
The so-called Donetsk People’s Republic increases coal mining. In September “the republic” mined around 1 million tons of coal. At the same time, in June 2014, before the military activities began in the region, it yielded 2.8 million tons of coal per month. Thus, the now Ukraine-uncontrolled territories mine one third of the pre-war volumes.…
The self-proclaimed Donetsk People’s Republic has renewed coal supplies to Kiev.
In January-September coal mining in Ukraine due to the military activities in Donbass fell almost twice YoY, from 53.4 million tons to 29.64 million tons.
The Ministry for energy and coal industry wants the International Monetary Fund, Ukraine’s key creditor, to help reform the coal industry, which has been suffering from the lack of the budget support for over a year.