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ArcelorMittal Kryvih Riy response to SBU raid

17/ 11/ 2021
  Today Security Service of Ukraine handed a notice of criminal charges to one of ArcelorMittal Kryvyi Rih’s senior executives. His home was searched today, nothing incriminating was found. The SBU alleges that ArcelorMittal Kryvyi Rih underpaid mining taxes in 2015-2019. The case has been pending since October 2020. The company always denied these accusations and questioned why a tax dispute is investigated by the SBU rather than the State fiscal service. ArcelorMittal Kryvyi Rih has disputed the extraneous charges that served as basis for this criminal case. As recently as November 4, 2021, the Dnipropetrovsk District Administrative Court ruled in favor of the company, voiding all charges. The tax authorities have 30 days to appeal the court decision. In this context ArcelorMittal Kryvih Rih is struggling to understand the grounds for this morning’s raid, especially considering that there are no pending charges against the company in relation to this tax matter. The company had indeed reviewed its tax paying practices in accordance to the existing law and court precedent, so that it fully aligns with the approach used by other iron ore mining companies. Since the privatization of the Kryvyi Rih industrial giant 16 years ago, the company has repeatedly asked the government of Ukraine to create a level playing field for all businesses. However, over several years now, various law enforcers and inspectors have inundated the company with drummed-up charges that so far haven’t withstood any judicial scrutiny. ArcelorMittal Kryvyi Rih considers today’s actions by the SBU just another example of unwarranted hostility towards an international company that has so far invested 10 billion dollars in Ukraine’s economy. ArcelorMittal Kryvyi Rih is one of Ukraine’s largest taxpayers. In 2015-2019, the period for which the company’s taxes are being disputed, more than 40 billion hryvnias in taxes and duties, including 1.8 billion of mining tax and 2.1 billion in rent taxes. Over the first eight months of 2021, the company paid 9.3 billion hryvnias in taxes and duties. This is an equivalent of all Ukrainian teachers’ combined salaries for 18 months and enough for the government of Ukraine to pay for all COVID-19 vaccines required this year.

Today Security Service of Ukraine handed a notice of criminal charges to one of ArcelorMittal Kryvyi Rih’s senior executives. His home was searched today, nothing incriminating was found.

The SBU alleges that ArcelorMittal Kryvyi Rih underpaid mining taxes in 2015-2019. The case has been pending since October 2020. The company always denied these accusations and questioned why a tax dispute is investigated by the SBU rather than the State fiscal service.

ArcelorMittal Kryvyi Rih has disputed the extraneous charges that served as basis for this criminal case. As recently as November 4, 2021, the Dnipropetrovsk District Administrative Court ruled in favor of the company, voiding all charges. The tax authorities have 30 days to appeal the court decision.

In this context ArcelorMittal Kryvih Rih is struggling to understand the grounds for this morning’s raid, especially considering that there are no pending charges against the company in relation to this tax matter.

The company had indeed reviewed its tax paying practices in accordance to the existing law and court precedent, so that it fully aligns with the approach used by other iron ore mining companies.

Since the privatization of the Kryvyi Rih industrial giant 16 years ago, the company has repeatedly asked the government of Ukraine to create a level playing field for all businesses. However, over several years now, various law enforcers and inspectors have inundated the company with drummed-up charges that so far haven’t withstood any judicial scrutiny. ArcelorMittal Kryvyi Rih considers today’s actions by the SBU just another example of unwarranted hostility towards an international company that has so far invested 10 billion dollars in Ukraine’s economy.

ArcelorMittal Kryvyi Rih is one of Ukraine’s largest taxpayers. In 2015-2019, the period for which the company’s taxes are being disputed, more than 40 billion hryvnias in taxes and duties, including 1.8 billion of mining tax and 2.1 billion in rent taxes.

Over the first eight months of 2021, the company paid 9.3 billion hryvnias in taxes and duties. This is an equivalent of all Ukrainian teachers’ combined salaries for 18 months and enough for the government of Ukraine to pay for all COVID-19 vaccines required this year.

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