Foreign investors expand their business in Ukraine – Revenues and Duties Ministry

Over two years, total volume of products sold by enterprises with foreign investments grew by 4% and export volume by 22%.
The press service of the Revenues and Duties Ministry of Ukraine told UKRINFORM about this. 

“Since 2011 and until 2012 inclusive, total volume of products sold by such enterprises grew by 4% – from UAH 838.6 billion to UAH 870.3 billion, whereas the export volume – by 22% (from UAH 159.4 billion to UAH 205.3 billion),” a statement reads.

According to the Revenues and Duties Ministry, payment of taxes to the consolidated budget by companies with foreign investments grew from UAH 50 billion in 2011 to UAH 54.2 billion last year.

In turn, as specialists of the Revenues and Duties Ministry assure, Ukraine systemically and purposefully works over creation of the favorable investment climate and equal competitive conditions both for Ukrainian and foreign companies.

In particular, VAT refunding to foreign investors made up UAH 19 billion in 2012, which is 28% up against 2011 (UAH 14.8 billion). At the same time, 55% of the refunding amount to settlement accounts or UAH 8.1 billion was returned in the automatic mode.

The share of import performed by the designated companies, with the absence of objections on the part of the customs bodies regarding the customs cost independently determined by enterprises, made up 83.7% in 2012.

The number of planned documentary audits of enterprises with foreign investments constantly reduces: if in 2011, controllers visited such enterprises 1,539 times, last year it was only 1,056 times. On the whole, starting with 2010, the number of audits of companies with foreign investments reduced almost 2.5 fold.




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