12:17 09.03.2017

Kernel, Illich Steel Works, Azovstal get largest VAT refunds in Jan-Feb

2 min read
Kernel, Illich Steel Works, Azovstal get largest VAT refunds in Jan-Feb

The largest VAT refunds recipient in January and February 2017 were Kernel-Trade sunflower oil exporter with UAH 2.194 billion (UAH 764 million), the State Treasury Service has reported.

Mariupol Illich Steel Works and Azovstal, part of Metinvest Group, follow it with UAH 895 (UAH 382.5 million) and UAH 856.3 million (UAH 703.1 million).

Nibulon with UAH 756.9 million (UAH 694.1 million) and Evraz DMZ with UAH 731.1 million (no refunds in December).

Some UA 677 million (UAH 700 million) was refunded to Suntrade, UAH 676.9 million (UAH 2.577 billion) to ArcelorMittal Kryvyi Rih, UAH 504 million (UAH 884.2 million to ADM Trading Ukraine, UAH 434.6 million (UAH 1.24 billion to Cargill) and UAH 302.9 million (UAH 244.1 million) to State Food-Grain Corporation.

In January-February 2017, UAH 17.01 billion of VAT wad refunded and it was 6.6% more than in January and February 2016. In January only UAH 30 million was refunded, and the sum was paid in several tranches early and late February.

In December 2016 VAT refunding totaled record-breaking UAH 15.96 billion after a decline to UAH 6.11 billion in November.

According to the State Fiscal Service, in 2016 UAH 94.3 billion of VAT was refunded in Ukraine. This was 37.9% up on 2015 and 87.8% up on 2014.

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