KYIV. Nov 21 (Interfax-Ukraine) – Ukraine has climbed to the 43rd position out of 190 countries in the Taxation 2018 rating compared to the 84th place in the Taxation 2017 rating.
“The biggest impact on improving the positions in the rating was shown by the reduction of the social security tax from 2017. This had a positive impact on the overall tax burden in Ukraine,” Viacheslav Vlasov, a partner of PwC Ukraine, said when presenting the rating results in Kyiv.
According to the published study, Ukraine, compared to last year’s indicators, has almost twice improved its position – by 41 percentage points.
The rating is determined on the basis of four indicators: the total tax rate, time for submission of reports and tax payment, the number of payments, the index of efficiency of the tax authorities’ work after reporting (post-filing index).
According to the report, the total tax burden in Ukraine is 37.8%, in the European Union 40.5%, while the global figure is 39.6%. Ukraine shows a positive trend in terms of the number of tax payments per year: their number is five, with the average figure in the world being 24, in the EU 12.
At the same time, preparation and submission of tax reports in Ukraine takes an average of 327.5 hours per year, while in the figure in the EU is 161 hours, and the total world figure is 240 hours, according to the Taxation 2018 rating.
KYIV. Nov 20 (Interfax-Ukraine) – State-owned enterprise Boryspil International Airport (Kyiv), the largest airport in Ukraine, saw UAH 1.63 billion of net profit in January-September 2017, which is 58.8% more than a year ago.
The airport’s press service reported that over the period passenger flow grew by 24%, to 8.07 million, and the number of transfer passengers – by 33%.
The airport said that it was possible to achieve the figures thanks to constructive work with airlines and an effective development model.
“In recent years, Boryspil airport has become one of the largest donors of the national budget, while at the same time, according to the benchmarks set by the regulator, the airport is moving in the direction of lowering airport charges. Undoubtedly, this will revive the market, but will also cause a significant reduction in allocations to the national budget,” the airport’s Director General Pavlo Riabikin said.
In general, at the end of 2017, the Boryspil airport plans to increase the volume of passenger traffic to more than 10 million people.
KYIV. Nov 20 (Interfax-Ukraine) – Western NIS Enterprise Fund (WNISEF) has announced the launch of U.Ventures, a new fund focusing on investing in early-stage technology startups from Ukraine and Moldova.
U.Ventures will invest in early stage companies, from Seed to Series A, with investments ranging from $100,000 to $500,000.
WNISEF told Interfax-Ukraine on Wednesday that at the first stage the fund will manage $5 million, although it is planned to expand it to $10 million.
“We founded U.Ventures to help ambitious startup teams navigate through the complex entrepreneurial journey from concept to significant shareholder value creation, working in a supportive and respectful manner as full lifecycle partners,” WNISEF President and CEO Jaroslawa Z. Johnson said.
According to the document, U.Ventures will back start-ups from Ukraine and Moldova that typically have a product with first traction, targeting large addressable markets, with a technology edge, driven by motivated teams with proven track record, and reputable co-investors.
To date U.Ventures has invested just over $2.3 million in 6 companies which are emerging leaders in their segments, quickly expanding into global markets.
Western NIS Enterprise Fund (WNISEF) is a $150 million regional fund, a pioneer in Ukraine and Moldova. WNISEF was funded by the U.S. government via the U.S. Agency for International Development (USAID). Since its inception, WNISEF’s cumulative investments total over $168 million to 118 companies in Ukraine and Moldova.
In 2015, WNISEF has launched a $35 million legacy program focused on export promotion, local economic development, impact investing and economic leadership.
KYIV. Nov 20 (Interfax-Ukraine) – The International Finance Corporation (IFC) from the World Bank Group would help to structure public private partnership projects at two Ukrainian ports, which are state-owned enterprises (SOE): Olvia stevedoring company and Kherson maritime merchandise port.
The Infrastructure Ministry of Ukraine reported on Tuesday that the memorandum of understanding was signed by the ministry with the IFC in Kyiv on Tuesday.
The IFC will also study the possibility of structuring the public private partnership project on the development of a rail and ferry complex at SOE Chornomorsk maritime merchandise port.
The ministry said that the signing of the memo was the first advisory project of the IFC in development of public private partnership.
IFC said that in the past ten years its team of advisors in public private partnership transactions mobilized almost $17 billion of private investment in infrastructure and helped governments to improve basic services in energy, transport, healthcare, water supply and sewage sectors.
KYIV. Nov 20 (Interfax-Ukraine) – The value of the top 100 most expensive brands of Ukraine totals $5.4 billion, according to a study conducted by the Novoye Vremia publication jointly with MMP Consulting.
According to the study, the top three most expensive brands are Morshinska estimated at $507 million, Sandora ($312 million) and Roshen ($274 million).
The valuation methodology is based on the financial results of the companies owning the brands, as well as the factors that may affect the brand value: geographical coverage of sales, technological component, manufactured products and investment attractiveness of the industry.
The brand of the alcohol producer Nemiroff was estimated by experts at $255 million, Nova Poshta at $218 million, PrivatBank at $211 million and Khortytsa at $203 million.
The top ten also included Rozetka ($179 million), Kyivstar, the largest Ukrainian mobile communications operator ($168 million) and Obolon ($162 million).
The largest number of brands in the rating represents food products, retail, beer and non-alcoholic and alcoholic sectors, as well as confectionery.
KYIV. Nov 20 (Interfax-Ukraine) – The net profit of PJSC Turboatom (Kharkiv), more than 75% of which belongs to the state, in 2018 should be more than UAH 763 million, while output should grow by 6%, according to a press release of the State Property Fund of Ukraine, with reference to its head Vitaliy Trubarov.
The corresponding figures are stipulated in the company’s financial plan for 2018, approved by the government committee. The fiscal plan also provides for the share of exports of 37% and a 10% increase in administrative expenses, which should be used for raising wages.
As reported, in 2017 the net profit of PJSC Turboatom was UAH 1.165 billion.
According to Trubarov, Turboatom is to be put up for privatization next year, and now the Cabinet of Ministers is determining the share to be sold.
“The state owns 75.2% of the company’s shares. The government will determine what stake will be offered to investors – either it will be a controlling stake, a full package or partial, but the fund counts on the privatization of Turboatom,” Trubarov said.
