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State Tax Service of Ukraine - Latest news GMK Center

Photo – The government hasn’t been able to fix the problem of late VAT refunds yet
The government hasn’t been able to fix the problem of late VAT refunds yet

It's likely that the issue of VAT refunds will stay relevant until the war is over

Photo – Untimely VAT refund is a systemic problem for Ukrainian economy and steel sector
Untimely VAT refund is a systemic problem for Ukrainian economy and steel sector

Iron and steel exporters are being stripped of vital working capital due to questionable actions by Ukrainian tax authorities

Photo – Ukraine produced 317 thousand tons of ferroalloys in 6 months
Ukraine produced 317 thousand tons of ferroalloys in 6 months

Production of manganese concentrate in January-June fell by 21%

Photo – Ukraine in January-June reduced the export of titanium ores by 46%
Ukraine in January-June reduced the export of titanium ores by 46%

In monetary terms, the export of raw materials for six months decreased by 21.1%

Photo – Ukrainian steelmakers reduced semi-finished exports by 55% in 4 months
Ukrainian steelmakers reduced semi-finished exports by 55% in 4 months

In monetary terms, exports of steel products decreased by 44.9%

Photo – Ukraine’s revenues from exports of iron & steel jumped 37% in January
Ukraine’s revenues from exports of iron & steel jumped 37% in January

Over the month, export revenues amounted to $1.02 billion

Photo – Ukraine’s revenues from iron ore exports grew 63% in 2021
Ukraine’s revenues from iron ore exports grew 63% in 2021

In physical terms, however, iron ore exports fell 4.2%

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