Ukrainian enterprises of Metinvest received VAT refunds in automatic mode

As the head of the State Fiscal Service (SFS) of Ukraine Roman Nasirov said on Tuesday, the enterprises of the mining and metallurgical company Metinvest of Rinat Akhmetov in mid-November received a refund on value added tax (VAT) in automatic mode.

According to the official, Metinvest received about one billion hryvnia of VAT refunds.

Earlier, Metinvest said that their enterprises in Ukraine are disconnected from the automatic VAT refund system, which jeopardizes production activities and may lead to the shutdown of factories.

According to the company, the state's debt on VAT refunds in October increased from UAH 2.06 billion to UAH 2.33 billion.

In early November, Roman Nasirov denied the information about the termination of automatic VAT refunds to Metinvest enterprises and announced a significant reduction in the VAT refund debt to the group.

Metinvest is the largest producer of iron ore and steel in Ukraine and one of the largest producers of iron ore and steel in the CIS. The main shareholders of the company are Rinat Akhmetov's SCM group (71.24 percent) and Vadim Novinsky's Smart-holding group (23.76 percent), which participate in the management of Metinvest on a partnership basis.

The main holding company of Metinvest Group is Metinvest B.V. (Netherlands, registration number 24321697), whose office is located at Alexanderstraat 23, 2514JM's-Gravenhage, the Netherlands.