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SFS: 90% of Ukrnafta’s Debts Belong to Bankrupt Companies

Tuesday, 29 May 2018 16:39

90% of the receivables of Ukrnafta belong to bankrupt companies, Chairman of the Office of Large Taxpayers Evgeni Bambizov said to ET, ET reports.

According to him, the State Fiscal Service checked the receivables of Ukrnafta, amounting to UAH 12.5 bln. “90% of this amount are the debts of bankrupt companies or the companies, which do not conduct any activities”, Bambizov reported.

He also noted that the audit was conducted so that the whole amount of tax debt of the company is pledged as the collateral property.

However, according to the conclusion of the Office of Large Taxpayers, only UAH 49 mln of receivables can be used for repaying the tax debt.

As Bambizov informed, the tax debt of Ukraine is UAH 15.1 bln, out of which the Office of Large Taxpayers administers UAH 2.1. bln, and the regional offices of SFS – UAH 13 billion.

The assets of the company, amounting UAH 14.5 bln, will be pledged as the tax lien.

They include:

$1-          fixed assets – fuel stations, buildings, pipelines and oil & gas processing equipment – for UAH 4.9 bln;

$1-          oil & gas assets – wells – for UAH 6.9 bln.

$1-          stocks and inventories – gas, oil – for UAH 2.8 bln.

In court, Ukrnafta attempts to make the Office to put in the books 2.1 bln cub. m. of gas, produced in 2006 and consumed by the population till 2008.

“Ukrtransgas is the third party in this dispute”, Bambizov says. “We obtained information from Ukrtransgas that Ukrnafta does not have this gas in storages. Ukrnafta attempts to make us pledge the gas, which we physically do not have”, Bambizov says.

The last court decision was in favor of Ukrnafta. Kyiv District Administrative Court obligated SFS to describe gas.

“The court considers that the Tax Code describes SFS actions not clearly in this situation. Of course, we cannot agree with such decision. Today, the appeal is being prepared in order to consistently advocate the position of the State Fiscal Service”, Bambizov explained to ET.

Ukrnafta PSJC is the largest Ukrainian oil producing company. Naftogaz of Ukraine NJSC owns 50% + 1 share of Ukrnafta, Privat Group of Igor Kolomoysky and Gennady Bogoliubov – about 42% of shares.

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