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The IRS requires Interpipe 2 billion for fictitious trade in scrap metal

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the Interpipe Steel - the final buyer of raw materials, which always works legally, but the beginning of a chain of scrap collection – the shadow market, but to deal with it, the tax authorities are not in a hurry, the company said.

The IRS requires Interpipe 2 billion for fictitious trade in scrap metal

the State tax service (STS) of Ukraine has put the tax claims to the scrap processing unit Interpipe Vtormet for the period from 2015 to 2019, arguing that all operations with scrap metal are fictitious, i.e. as if the company did not buy scrap.

On words the press service of Interpipe, the statements of the tax "absurd," because a scrap is the only raw material that runs the plant "Interpipe Steel".

"GNS accuses Interpipe that he did not buy raw materials, and in the period from 2015 to 2019 produced metal, tubes and wheels from the air. The volume of produced and shipped finished products corresponds to the amount of purchased scrap", - noted in the company.

Interpipe sent against the decision of the tax authority in the state tax service of Ukraine.

"the Ability of metallurgists to produce steel out of nothing, the tax office tries to prove every year. From 2013 all large metallurgical enterprises of Ukraine have the same claims and all decisions on additional taxes and penalties were abolished in court. Only in 2019, the Supreme court of Ukraine adopted 64 decisions that confirmed the reality of the transactions for the purchase of plants and raw materials to substantiate claims GNS", - comments Denis Morozov, Director for Economics and Finance Interpipe.

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