Ukrainian Railways (Ukrzaliznytsia) accused of grand tax evasion

Public Joint Stock Company Ukrainian Railways (Ukrzaliznytsia) has evaded taxes in the amount of nearly UAH 2 billion, head of the major payers department of the State Fiscal Service Yevhen Bambizov wrote on Facebook.

”We have recently completed our inspection of Ukrzaliznytsia, having revealed tax evasion worth more than UAH 1.5 billion, including through carrying out fictitious transactions worth over UAH 200 million. In addition, we have established and proved in court tax evasion by Ukrzaliznychpostach, one of the structures of Ukrzaliznytsia, worth some UAH 350 million,” Bambizov said.

As UNIAN reported earlier, Ukrzaliznytsia posted a loss of UAH 16 billion last year, primarily due to exchange rate fluctuations of the hryvnia against major currencies.

At the same time, the company`s revenues increased by UAH 10.7 billion (21.6%), compared with 2014, to UAH 60.1 billion.

The company noted that its financial plan for 2016 projects profit at UAH 98 million, total income at UAH 78.4 billion, gross profit at UAH 7.9 billion and EBITDA at UAH 26 billion.

UNIAN memo. Public Joint Stock Company Ukrainian Railways carries out 82% of cargo and approximately 50% of passenger transportation in the country using all types of transport. The Ukrainian Railways ranks fourth on the Eurasian continent in terms of cargo transportation volumes, second only to the railways of China, Russia and India.

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