Commentary of “ArcelorMittal Kryvyi Rih” on the statement of the Chairman of the Security Service of Ukraine Ivan Bakanov on March 17

“ArcelorMittal Kryvyi Rih” is concerned about the statements of the head of the SBU Ivan Bakanov about the payment of taxes by the enterprise, do not correspond to reality. The company has already sent an official letter to the chairman of the SBU with correct information about the payment of taxes and fees over the past 6 years. The management of the enterprise hopes that the statements published by the media are the result of incorrect informing of the head of the SBU by his subordinates. Like all other exporters, ArcelorMittal Kryvyi Rih uses the VAT refund mechanism provided for by the legislation. The company applied for reimbursement only of its own funds, which were spent on paying VAT to the state budget when importing goods, as well as VAT paid to domestic suppliers of goods, works, services. The VAT refund does not provide for additional budget costs, but is a reimbursement of the company’s own funds overpaid by the company. This indicator is calculated as the difference between the tax liabilities “yazannyi and the amount of VAT actually paid to the customs authorities and domestic suppliers. If this tax is paid in excess, the state refunds the funds within the time frame established by law. All Ukrainian enterprises that paid VAT in advance were actually financed by the state. provided a kind of tax credit The state is still paying with ArcelorMittal Kryvyi Rih on debts arising from untimely refund of value added tax until 2015. Now the amount of such debt is about UAH 100 million. exporters often leads to delays in the implementation of investment programs and, in general, negatively affects the investment climate. Artem Filipp “ev, Deputy General Director for Legal Affairs, Government Relations and Communications” ArcelorMittal Kryvyi Ro r “ – ArcelorMittal, as an international company, builds its business processes in accordance with clear rules established by the law – first of all, it is full and timely payment of taxes (including VAT, income tax, rent boards). The legal mechanism for VAT refunds from the state is the same for all Ukrainian business, in particular, exporters. Government interference in this process will not only violate the law, but will also limit capital investments and reduce exports. In turn, this will reduce the volume of foreign exchange earnings in the country. Making such statements, law enforcement officers are aware of what they are pushing investors to? VAT amounts claimed and actually reimbursed by ArcelorMittal Kryvyi Rih, 2015-2020 (Thousand UAH)

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