Ukrainian steelmaker
Zaporizhstal has announced that the VAT refund paid to the company has been illegally cut, resulting in a shortage of working capital required for the payment of energy costs.
"It seems that the plant has been purposefully and artificially left without working capital before the critical payments. Such actions by the authorities can be regarded as either incompetence, leading to the complete collapse of the economy and killing domestic enterprises; or such actions should be viewed as a systematic campaign to destroy the plant and its workforce," said general director of the plant, Rostislav Shurma.
Zaporizhstal said that the current VAT refund to be received by the state stands at around UAH 650 million ($30.7 million).