The total amount of additional taxes PJSC Zaporizhia aluminum combine (ZALK) amounted to nearly UAH 800 mln. This was announced by the Office of large taxpayers of the State fiscal service.
According to the report, the decision on additional tax assessment should be taken by the court of first instance where the Supreme administrative court ZALK said case was sent for new consideration.
“The crux of the matter is that former a major Ukrainian manufacturer of aluminium PJSC Zaporozhye aluminum plant for a long time systematically used schemes of minimization of tax liabilities and tax evasion. In recent years, industrial activity (2009-2012) works continuously sold their products at below cost, which led to not only an understatement of tax object of income tax, but the creation of unjustified grounds for compensation from the budget of value added tax,” – said in the GFS.
As reported in the Zaporozhye Office of large taxpayers of the SFS, there is a positive court practice in similar cases with ZALK.
We will remind, in February 2001 the state property Fund sold of 68.01% of ZALK shares of AVTOVAZ-invest (Russia) for to 380, 6 million UAH. In March 2006, AVTOVAZ-invest resell these shares in Cyprus Velbay Holdings, a subsidiary of the RUSAL group.
In March 2012, the economic court of Kyiv at the suit of the Prosecutor General of Ukraine recognized the agreement the sale of shares null and void and ordered Velbay Holdings Limited return of 68.01% of ZALK shares of the Fund Rosimushestvo. Prosecutors argued the need to make this decision on the fact that AVTOVAZ-invest and Velbay Holdings did not fulfill their investment obligations.
Velbay Holdings tried to challenge this decision in higher instances, but to no avail. In the end, the share of subsidiaries of the company RUSAL in ZALK dropped from 97,5% to 29.5%.
RUSAL is one of the world’s largest producers of aluminium. The largest shareholder of RUSAL is the company En+ group of Russian billionaire Oleg Deripaska.
In December 2016 the Supreme court of Ukraine has refused to return ZALK subsidiary of RUSAL.
In August 2017 the investigators of SBU reported about suspicion to the members of the international group suspected in the destruction of the industrial complex ZALK.
The state property Fund of Ukraine planned to sell ZALK at the beginning of 2018.