VAT reimbursement to ArcelorMittal Kryviy Rih (Dnipropetrovsk region) has been settled, the Ukrainian government has said.
"Ukrainian Premier Mykola Azarov said that the VAT reimbursement to ArcelorMittal Kryviy Rih has been settled," the press service of the Ukrainian premier told Interfax-Ukraine, commenting on talks between Azarov and Head of the Parliament of Luxembourg Laurent Moser.
As reported, ArcelorMittal Kryviy Rih CEO Rinat Starkov on February 14 said that the debt of the state for VAT reimbursements to the company has reached some UAH 3.5 billion.
He said that as of the end of 2009 the debt for VAT refunds to ArcelorMittal Kryviy Rih amounted to UAH 1.5 billion, and as of December 31, 2010 the sum exceeded UAH 2.3 billion. And this is despite the fact that in September 2010 the enterprise made concessions to the state, taking VAT bonds worth a total of UAH 1.7 billion as reimbursement for VAT. In fact, only UAH 700 million was refunded.
Starkov said that after the company had received VAT bonds worth UAH 1.7 billion, it immediately sold them to an international bank with a double-digit discount, but it did not specify the bank’s name or the discount’s exact size.
ArcelorMittal Kryviy Rih specializes in long products, in particular rebar and wire rod. Its main markets outside the CIS are the Middle East, Europe and Africa.
The company sells metal products in the Middle East, Europe, Africa and Algeria.
The owner of ArcelorMittal Kryviy Rih is Indian-French- Luxembourg ArcelorMittal.
"Ukrainian Premier Mykola Azarov said that the VAT reimbursement to ArcelorMittal Kryviy Rih has been settled," the press service of the Ukrainian premier told Interfax-Ukraine, commenting on talks between Azarov and Head of the Parliament of Luxembourg Laurent Moser.
As reported, ArcelorMittal Kryviy Rih CEO Rinat Starkov on February 14 said that the debt of the state for VAT reimbursements to the company has reached some UAH 3.5 billion.
He said that as of the end of 2009 the debt for VAT refunds to ArcelorMittal Kryviy Rih amounted to UAH 1.5 billion, and as of December 31, 2010 the sum exceeded UAH 2.3 billion. And this is despite the fact that in September 2010 the enterprise made concessions to the state, taking VAT bonds worth a total of UAH 1.7 billion as reimbursement for VAT. In fact, only UAH 700 million was refunded.
Starkov said that after the company had received VAT bonds worth UAH 1.7 billion, it immediately sold them to an international bank with a double-digit discount, but it did not specify the bank’s name or the discount’s exact size.
ArcelorMittal Kryviy Rih specializes in long products, in particular rebar and wire rod. Its main markets outside the CIS are the Middle East, Europe and Africa.
The company sells metal products in the Middle East, Europe, Africa and Algeria.
The owner of ArcelorMittal Kryviy Rih is Indian-French- Luxembourg ArcelorMittal.
