The company that owns three mining and processing plants in Ukraine has announced a reduction in production volumes and reduction of personnel.
The Ferrexpo Mining Company announced the end of receiving the VAT payment from the state in March 2025, which led to a violation of its stable operations of its businesses, reducing production volumes, reducing jobs and reducing tax deductions at budgets of all levels. This is stated in a press release, prevalent by the company.
In Ukraine, Ferrexpo owns Poltava, Eristovsky and Bilanovsky Mining and Processing Plants (GOK).
“We have received tax documents stating that our businesses in Ukrainians do not” automatically “return to export VAT in March. In conditions the country is experiencing a full -scale war for four years, and businesses face new challenges, reducing our working capital in the form of non -exports Million tons of products in 2025. Production and shipments of finished products, reducing the level of wages, as well as taxes from these salary accruals, not paying the budgets of all levels of necessary funds, reducing the GDP of the region and the country, as well as the deterioration of the economic and investment situation in Our Country, ”the press service of Ferrexpo, Dmitry Vinivitin, quotes the head of the trade union committee of Poltava Goc.
At the same time, Ferrexpo noted that the company is one of the largest industrial manufacturers in Ukraine and is among the top three of the largest exporters of mining and metal products that provide foreign currency revenues in the country, and its GOKs are city-generated businesses.
“Everything that is currently happening in Ferrexpo in Ukraine is the pressure on Ukrainian and foreign business through imposed penalties on one of the British Company’s largest shareholders, quoted at the main site of the London Stock Exchange,” the company said.
In this regard, the company called the Ministry of Finance and the Ukraine State Tax Service to accelerate the solution of the problem and restore “timely and legal payment for exporting VAT for businesses.”
We remind, earlier that in Ukraine, industry production has increased dramatically in two years.
It has become known how the new duties of the United States will affect Ukraine
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.