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Ukrainian fiscal service writes off UAH 168m from PJSC Ukrnafta's accounts

Ukrainian fiscal service writes off UAH 168m from PJSC Ukrnafta's accountsThe State Fiscal Service of Ukraine thanks to new legislation has written off UAH 168 million of the tax debt from accounts of public joint-stock company Ukrnafta, the authority said on Wednesday, referring to Head of the Large Taxpayers Office Yevhen Bambizov.

He said that earlier attempts to the collect the debt were blocked by court. However, Ukraine's Verkhovna Rada amended Article 95 of the Tax Code and permitted the head of the oversight agency without court decisions to collect debts of over UAH 5 million from companies that declaring liabilities, but not paying taxes.

Read also: PJSC Ukrnafta seeks to make new drilling wells, renew drilling fleet

Bambizov recalled that in 2015-2017 Ukrnafta gradually accumulated taxes to the budget under declared pecuniary commitments, which today reached almost UAH 12.8 billion. This sum includes the UAH 1.5 billion profit tax and UAH 400 million VAT debts.

He said that Ukraine's higher administrative court left in effect the tax order and decision to distress property issued by the Large Taxpayers Office, while acts for property distress for UAH 11.2 billion were annulled. The Large Taxpayers Office is trying to have the decision revised.
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