In December, 2015, the State Fiscal Service compensated in full the outstanding debt in value added tax to Zaporizhstal Works in amount of UAH 1 billion and 14 million, which earlier was given a credit by the Works to the state budget.
The Chief Executive Officer of Zaporizhstal PJSC Rostyslav Shurma commented compensation of VAT out-standing debt to the Works as follows:
«VAT Debt recovery, which has been accumulated in the first half of 2015, will permit the Works to pay out salaries in good time, to settle accounts for electric power and other power carriers, to repay the outstanding debts for raw materials delivery, and, subsequently, to complete work on holidays celebration. We have got the opportunity to continue revamping of Sinter Plant. By the end of December, we are planning to start sintering machine No.3 equipped with new modern gas cleaning unit. From 15 January, we are going to shutdown Sinter machine No.4 for connection of new, already practically constructed, gas cleaning unit. In the nearest 6 months, we are planning to complete to full capacity the ecological revamping of Sinter Plant by means of installation of the gas cleaning unit at the Sinter machines Nos.5 – 6. I’d like to underline, that Zaporizhstal Works, having exported metal products monthly for amount about UAH 2 billion, provides for the state budget a tax credit in VAT for the amount of UAH 200 to 300 million per each month. It is of vital importance for us to receive these funds back and in good time, in order to provide the stable operation of the enterprise. We hope that punctual VAT returning will become a norm in interaction of business and government». At present, there is no any government outstanding debt to the Works in the terms of VAT. The remainder in the budget, VAT outstanding debt to Zaporizhstal, makes up UAH237.6 million. The period for reimbursement of this amount has not yet come.