Business news from Ukraine

Business news from Ukraine

New generation modern airport is being built in Tashkent

On June 18, the President of Uzbekistan inspected the construction of the new Tashkent East Airport, one of the country’s strategic infrastructure projects.

Construction on the former military airfield started in 2017.

The future airport is positioned as a transportation hub for the capital and the New Tashkent under construction. Its main activities will be receiving official visits and business trips of foreign investors. It is expected that its opening will stimulate the development of the tourism industry in Tashkent region.

According to the presented master plan, the total area of the new air harbor will be 561 hectares. The passenger terminal will serve up to 100 people per hour. The airfield’s apron will be able to park 23 double-deck Boeing 747s simultaneously.

The first phase of work, including the renovation of a 4-kilometer runway, was completed in 2023.

The airfield is capable of handling aircraft of all classes, including the heaviest ones.

The construction of two terminals is underway to accommodate official delegations and business aviation, as well as a runway and hangars for aircraft maintenance. The airport will be equipped with modern ICAO Class III-A radio and meteorological equipment. It will become the first air hub in Central Asia with ICAO Category III-A, which will allow it to receive flights even in fog and zero visibility.

The renovation of Tashkent-East is aimed at creating a modern, convenient and safe air hub that will relieve the capital’s main international airport and increase the overall level of air traffic.

Thanks to its favorable location, Tashkent-East will be able to reduce the load on the capital’s main international airport and increase the capacity of the country’s entire aviation infrastructure.

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Net foreign exchange interventions by National Bank jumped by almost quarter over week

The National Bank of Ukraine (NBU) last week increased its sale on the interbank market by $138.7m, or 23.7%, to $724.0m in the absence of currency purchases, according to statistics on the regulator’s website.

The data, which the regulator managed to release during this time, shows that the balance was negative all last week and fluctuated from $0.4m on Monday to $13.7m on Tuesday, $14.1m on Wednesday and $11.9m on Thursday.

The official hryvnia exchange rate rose from 41.4466 UAH/$1 at the beginning of the week to 41.8335 UAH/$1 at the end of the week.

In the cash market, the hryvnia exchange rate changed at the end of the week, with buying up around 41.71 UAH/$1 and selling up around 41.80 UAH/$1.

“The US dollar exchange rate remains in a controlled range, showing minimal changes within the so-called floating stability. This was possible due to the systemic influence of key factors: high currency reserves, restrained demand from the population, moderate business activity and projected volumes of currency supply,” experts of a major participant of the cash currency exchange market described the situation. Read more at the link – KYT Group.

According to analysts, in the next two to four weeks the dollar exchange rate is likely to remain stable within the range of UAH 41.10-41.80/$1, without significant fluctuations in the spread.

In the medium term, within two to four months, the dollar may strengthen to UAH 42.00-42.50/$1 if imports intensify, budget expenditures increase or inflation accelerates.

 

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DIM offers realtors transparent cooperation through DIM REALT

DIM Group of Companies has launched the DIM REALT affiliate program for realtors and brokers, with transparent terms and a focus on long-term cooperation, the company’s press service reports.

The release notes that as part of the program, DIM provides access to its own closed brokerage ecosystem, in which partners, in particular, receive an agreement with clearly defined terms, roles and regulations; a transparent payment system without delays and hidden sub-clauses; exclusive conditions for objects, including presale conditions, etc.

The key focus of the program is on professional support and deep involvement in the company’s products. To this end, DIM organizes special Property tours for brokers with the participation of a team of architects, project managers, and sales, during which partners will be able to see all the nuances and conceptual features of the objects from the inside.

The portfolio of the development company DIM consists of real estate in Kyiv and the region with a total area of over 900 thousand square meters. More than 3.6 thousand apartments have been commissioned, and over 356 thousand square meters of residential and commercial space have been built. Six projects with a total area of over 346 thousand square meters are under construction.

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Dividends of Ukragroleasing for 2024 amount to more than UAH 1.5 mln

The State Property Fund of Ukraine (SPFU), which solely performs the function of the general meeting of NJSC “Ukragroleasing”, obliged the company to distribute profits based on the results of financial and economic activities in 2024 and allocated 80% to pay dividends, as well as approved the total amount of annual dividends in the amount of UAH 1,592,192.

According to a publication in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), the SPFU ordered NJSC “Ukragroleasing” to pay annual dividends to the state budget within the statutory period, i.e. no later than July 1, 2025.

As of June 19, Ukragroleasing has already paid the first part of the annual dividend in the amount of UAH 592.19 thousand, and plans to transfer the balance of the annual dividend in the amount of UAH 1 million by June 30, 2025.

Ukragroleasing was founded in 1999. It is engaged in financial leasing of agricultural machinery and equipment for agriculture at 7% of annual unadvertised prices for equipment for five to seven years. The NAC includes maintenance, logistics, and machine repair stations.

According to the Opendatabot service, in 2024, Ukragroleasing increased its revenue by 38% to UAH 213.17 million, net profit by 4.3 times to UAH 5.228 million, assets by 15.9% to UAH 430.69 million, and liabilities by 2.8 times to UAH 21.7 million. The company currently employs 165 people. The authorized capital is UAH 1.17 billion.

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Real estate taxes in Netherlands: overview from Relocation

The Netherlands is one of the most stable and attractive countries in Europe for real estate investments. Transparent legislation, developed market, high demand for rentals make this country interesting for both private owners and investors. However, before buying an apartment or house, it is important to understand what taxes you will have to face – both when buying and during further ownership.
The main taxes when buying real estate in the Netherlands
1. Transfer Tax (Overdrachtsbelasting)
This is the main one-time tax when buying a property on the secondary market.
Standard rate: 10.4% of the purchase price (effective January 1, 2023).
For homes purchased for own residence: 2% rate.
For buyers under the age of 35 (first-time buyers of a home up to €510,000): the rate can be 0% (exemption if all conditions are met).
Please note: if you buy a property to rent out, even as a private individual, the 10.4% rate applies.
2. VAT (BTW).
VAT only applies when you buy a new property from a property developer.
Rate: 21% of the value of the property.
In case of purchase with VAT, no transfer tax (Overdrachtsbelasting) is charged.
Annual property taxes
1. Municipal property tax (Onroerendezaakbelasting, OZB)
This tax is paid by all property owners (both natural and legal persons).
It is based on the assessed value of the property (WOZ-waarde), which is determined annually by the municipality.
The rate varies depending on the city, usually from 0.035% to 0.12%.
For example, if the WOZ-value of a house is €400,000, the tax could be between €140 and €480 per year.
2- Waterschapsbelasting – tax on water management
The Netherlands is a country with an active water infrastructure, so there is a special tax:
It is paid by all property owners.
The amount depends on the region and the type of property, but is usually between €100 and €400 per year.
3- Local charges: garbage, sewage, etc.
The property owner also pays a number of local fees that vary by municipality:
Waste disposal (afvalstoffenheffing)
Sewerage fee (rioolheffing)
Charges for public services
Together these can amount to €300-€700 per year.
Taxes on rental property
In the Netherlands, rental income is taxed according to a tax ‘box’:
In most cases, unless you are a professional landlord, the property falls into Box 3 (capital tax).
Income is not directly taxed, but the condition of the assets (including the market value of the property) is taxed.
The effective rate is between 1.2% and 1.71% of net worth (after deducting debts).
Example
Purchase of an apartment in Amsterdam for €450,000 for own residence:
Property transfer tax (2%): €9,000
Municipal tax (approx. 0.1% of WOZ): approx. €450 per year
Garbage and sewerage fees: €500 per year
Waterschapsbelasting: €200 per year
Total annual taxes and fees: about €1,150
Buying property in the Netherlands requires a good understanding of the tax system. The main one-off tax is 2% or 10.4%, depending on the purpose of the purchase. This is followed by annual local and water charges, as well as taxation in the case of renting. To properly evaluate an investment, it is important to consider not only the purchase price but also the long-term fiscal obligations. In case of doubt, it is advisable to consult a local tax advisor or notary.

 

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Stalkanat’s net profit decreased by 34% in 2024

Stalkanat Production Association (Odesa) reduced its net profit by 34% year-on-year to UAH 184.808 million from UAH 280.060 million in 2024.
According to the company’s annual report, last year the company increased its net income by 33.3% to UAH 4 billion 436.786 million.

Retained earnings at the end of 2024 amounted to UAH 437.815 million.
The company shipped 90.089 thousand tons of steel products in 2024. The share of exports was 48% in physical terms. Last year’s capital investments amounted to UAH 226.445 million.

The average number of employees in 2024 was 1,056 thousand people, and the average income per employee was UAH 34,632 thousand.

As reported, in 2023, Stalkanat reduced its net profit by 13.8% compared to 2022, to UAH 280.060 million from UAH 325.073 million, but increased its net income by 3.1%, to UAH 3 billion 328.170 million. Retained earnings at the end of 2023 amounted to UAH 373.626 million.

In 2023, the company shipped 72.593 thousand tons of steel products, with an export share of 53% in physical terms. Capital investments in 2023 amounted to UAH 164.815 million.
“Stalkanat is one of the largest producers of steel ropes and reinforcing strands in Eastern Europe and a leader in the production of hardware products in Ukraine.

As of the first quarter of 2025, David Nemyrovsky holds a 50% stake, Anton Mikhalenko (non-resident) – 23.7%, and Maria Kondratyuk – 23.1%. Earlier, the company reported that an individual, Vitaliy Dubovich, owned 3.199998% of its shares.

The authorized capital of Stalkanat currently amounts to UAH 17.736 million, with a share price of UAH 0.17.

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