Ukrnafta’s debt to the state budget continues to grow

According to GFS, on October 1, the tax debt of the company amounted to 13.72 billion.

Ukrnafta tax debt before the state budget in September increased by UAH 63.8 million as of October 1, amounted to 13.72 billion. This amount does not include penalties and interest for late payment of taxes. This is evidenced by the monthly statistics of the State fiscal service on the debtor of the state budget.

On October 1, Ukrnafta remains the largest debtor to pay taxes to the state budget. It accounts for 20,03% of the total debt in the country.

SFS publishes data on the debtors since may of this year. On may 1, the company’s debt amounted to 12,729 billion. The results may Ukrnafta underpaid current tax for 254,1 million UAH, in June – by 104.6 million UAH, in July – EUR 168.1 million, in August – on of 402.6 million UAH in September – UAH 63.8 million. In total, over the last 5 months, the company increased the tax duty on 993 million UAH.

In turn, the head of Ukrnafta mark Rollins and the Vice-President of strategy Jonathan Popper continues to assert that the company pays all current taxes and considers the SFS the data is wrong.

“According to our information, at the end of 2016, the tax debt was UAH 13.2 bn. This figure has not changed and at the end of 6 months of 2017. If you operate with numbers of the SFS, then you have to explain why, from January to may, the debt was reduced to 12,7 billion UAH”, – says the press service of the company. Ukrnafta publicly encourages SFS to explain the method of formation of their data on tax debt.

In addition, according to the SFS, joint activities of the branch OGPD Ukrnafta, Poltavaneftegaz and Momentum Enterprises Limited No. 999/97 of 24 December 1997, has a debt to the state budget in the amount of 1.84 billion. In September, the debt has not changed.

Tax debt Ukrnafta was formed since August 2014. A new management team led by Rollins calls this duty the “historical” and refuses to repay.

Naftogaz of Ukraine owns 50%+1 share of Ukrnafta. Companies within the sphere of influence of the group Privat Igor Kolomoisky, own approximately 42% (13.6% of companies Littop Enterprises Limited and Bridgemont Ventures Limited, 12.9 per cent Bordo Management Limited, 9,9% – to other shareholders). Since 2003, operational control of Ukrnafta by a group of Privat.

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