In Ukraine, in January-September 2024, due to the turnover and use of agricultural land, community budgets received more than UAH 23 billion in taxes, which is 15% more than in the same period in 2023, according to a study by the Kyiv School of Economics (KSE) commissioned by the USAID program.
According to the study, in July 2024, agricultural land contributed UAH 3.5 billion to community budgets, which is 13% more than last year. This made it possible to partially compensate for the decline in other tax revenues caused by the redirection of personal income tax paid by the military to the state budget – approximately 16% of the UAH 2.5 billion shortfall in July.
In addition, the share of revenues related to agricultural land in the total tax revenues of communities this year increased from 11% to 14%. In July this year, communities had an average of UAH 90 of budget revenues per hectare. Dnipropetrovs’k region remains the leader in terms of budget revenues from the turnover and use of agricultural land – UAH 261 per hectare in July.
“The key factor in the growth of community revenues from the turnover and use of agricultural land was the increase in payments for the lease of communal agricultural land (+11%) and the revival of revenues from land tax (+12%). Communities’ finances were also positively affected by the increase in revenues from the minimum tax liability (MTL). In July 2024, the payment of the minimum tax obligation amounted to UAH 116 million, which is the largest monthly tax revenue since the beginning of the year,” the KSE said.
In January-October of this year, Ukrainian steelmakers increased their revenues from ferrous metal exports by 18.2% year-on-year to $2 billion 665.40 million.
According to statistics released by the State Customs Service (SCS), ferrous metals accounted for 7.7% of total export revenues during this period, compared to 7.6% in January-October 2023.
In October, revenues from exports of ferrous metals amounted to $265.72 million, while in the previous month – $332.83 million.
At the same time, Ukraine increased imports of similar products by 13.5% to $1 billion 251.91 million over ten months of this year. In October, the country imported products worth $129.45 million.
In addition, in January-October 2024, Ukraine increased exports of metal products by 5.7% to $799.01 million. In October, they were exported for $77.33 million.
Imports of metal products increased by 22.4% to $885.01 million during this period. In October, these products were imported for $98.53 million.
As reported earlier, in 2023, Ukraine’s steelmaking companies reduced revenues from exports of ferrous metals by 41.6% compared to 2022, to $2 billion 647.72 million, while ferrous metals accounted for 7.3% of total revenues from exports of goods during this period, while in 2022 the share was 10.3%. In addition, in 2023, Ukraine increased imports of similar products by 37% to $1 billion 307.05 million.
In addition, last year, Ukraine reduced exports of metal products by 16.6% year-on-year to $877.92 million. At the same time, imports of metal products increased by 40.3% to $902.57 million during this period.
The State Property Fund of Ukraine (SPFU) has sold the Bilhorod-Dnistrovskyi seaport for UAH 108 million including VAT (approximately USD 2.6 million) at an English auction on the Prozorro platform.
“The State Property Fund’s team held four online privatization auctions in the Prozorro.Sale system, including the Belgorod-Dniester Sea Commercial Port,” the SPF press service reported on its website on Friday.
The auction was held at the 13th attempt, the statement said.
“The initial price of the asset was UAH 88.9 million, and the final price was UAH 90 million. The winner of the auction will additionally have to pay UAH 18 million in VAT, so the total economic effect may amount to UAH 108 million,” the SPF said, adding that the buyer will also pay off the company’s debt, which is included in the list of privatization conditions.
According to the company, as of June 30, 2024, its overdue wage arrears reached UAH 15.16 million, and overdue accounts payable amounted to UAH 151.31 million.
The auction in Prozorro was announced on October 30 and was conducted in the form of a three-round English auction (for price increase – IF-U). The highest (closed) bidder had the right to make the last move in each round. On November 7, the auction closed.
The winner of the auction was TOP OFFER LLC, which offered UAH 108 million including VAT for the lot and paid a guarantee fee of UAH 17.97 million. Open sources indicate that the ultimate beneficiary of TOP-OFFER LLC is Yevhen Bohuslavskyi, who, according to Opendatabot, is also the founder of TESTUDO Group LLC and FC INKAM LLC. He was also a director of such companies as Factoring Company Paritet LLC and NRC-Ukraine LLC. It is also reported that his activities also include charitable initiatives through the International Charitable Foundation “European Future”.
Since the beginning of the full-scale invasion, the SPF has made several attempts to sell the Bilhorod-Dnistrovskyi ICC. Initially, the port was put up for sale on March 3 for UAH 187.57 million, but then its starting price was reduced to UAH 93.78 million, and the auction was won by businessman Vitaliy Kropachev’s Ukrdoninvest LLC, but the company refused to buy at the stage of agreeing on the terms of the sale agreement. Subsequent attempts to sell it in June, with a price reduction to UAH 92.46 million, were unsuccessful due to the lack of bids.
The State Service of Geology and Subsoil of Ukraine will hold an online auction for the sale of a special permit for the extraction of gabbro in the Zarichna area of the Rudnia Shlyakhova deposit for a period of 20 years. NADRA.INFO reports with reference to UBIZ.ua. The auction was initiated by Monolith PE*.
The starting price is UAH 5,129,755.21. The period for submission of bids is 11.11.2024 18:00 – 26.11.2024 20:00. The guarantee fee is UAH 1,025,951.04.
As of 01.01.2024, the State Balance of Mineral Reserves of Ukraine recorded gabbro reserves of the Zarichna area of the Rudnia Shlyakhova deposit in the amount of (thousandm3), by category: “Facing stone”: A – 220.92, B – 558.0; A+B – 778.92; “Building stone”: A – 19.0, B – 46.0; A+B – 65.0 (source).
In administrative terms, the Rudnia Shlyakhova deposit is located 400 meters east of the village of Rudnia Shlyakhova, Zhytomyr district, Zhytomyr region.
Nearby, within a radius of 1.5 km, 4 gabbro areas are licensed:
Read our advice to quarry buyers here
BUY SPECIAL PERMITS FOR SUBSOIL USE HERE
*– Monolith PE (Irshansk, Zhytomyr region) is owned and headed by Vitaliy Kovalenko (YouControl). The company holds two valid special permits for subsoil use – No. 2861 and No. 5160.
**– Vesta LLC (Khoroshiv, Zhytomyr region) is controlled by Volodymyr Shevchenko, Hanna Tereshchenko, and Heorhiy Kuvelas. The director is Ivan Shevchuk (YouControl). SD No. 3893 is the only one in the company’s arsenal.
***– The subsidiary of Blue Stone-1 LLC (Khoroshiv, Zhytomyr region) is controlled and headed by Yevhen Oliynyk (YouControl). SD No. 4043 is the only one in the company’s arsenal.
****– Amethyst MP LLC (Zhytomyr) is controlled by Oksana Karamanits and Ksenia Lyakh. It is headed by Valeriy Parshakov (YouControl). SD No. 2695 is the only one in the company’s arsenal.
*****– Ilona (Korostyshiv, Zhytomyr region) is controlled by Oleksandr Dubinin and Valentyn Shumskyi. It is headed by Mykola Bovsunovsky (YouControl). SD No. 5070 is the only one in the company’s arsenal.
Russia’s war against Ukraine can easily end if the US administration under Donald Trump takes a solution-based approach, Turkish President Tayyip Erdogan said on Friday, according to the Turkish newspaper Yeni Şafak.
“If in the Trump era we see a US administration that approaches the issue from a settlement perspective, we can easily end this war. More weapons, more bombs, more chaos and conflicts will not end this war. More dialogue, more diplomacy, more reconciliation will open the door to peace,” Erdogan said while talking to journalists on board the plane after returning from Budapest.
He noted that Turkey is “a country that has managed to bring both sides to the same table.”
“We have done it many times and we can do it again. This war must end now,” Erdogan emphasized.
According to him, Turkey has focused its efforts on achieving peace and will continue to do so. “We hope that in the new period we will be able to start from scratch and achieve peace, in which all conflicts and wars will end,” the Turkish leader said.
In his opinion, Trump’s election as US president will have a serious impact on the political and military balance in the Middle East. In addition, Erdogan said that he had invited Trump to Turkey.
“I hope he will accept our invitation and thus strengthen cooperation between Turkey and the United States,” he said.
Deputy Head of the Office of the President of Ukraine Iryna Mudra met with Secretary General of the International Chamber of Commerce John Denton and President of the Ukrainian Chamber of Commerce and Industry Gennadiy Chyzhykov.
According to the Presidential Office’s website on Friday, the key topic of the meeting was the possibility of the International Chamber of Commerce cooperating with the international compensation mechanism being created to implement the 7th point of the Peace Formula, “Restoring Justice.”
“As a global business organization, the International Chamber of Commerce can contribute to understanding how the private sector can benefit from the international compensation mechanism. Such interaction will help ensure economic recovery and effective reconstruction,” Mudra said.
According to her, Ukraine is doing everything necessary to join the European Union, including reforms to improve the judicial system, investment opportunities, and business environment.
Denton spoke about possible areas of activity of the International Chamber of Commerce to attract investment to Ukraine, improve the business climate and create effective tools for resolving commercial disputes.
