Business news from Ukraine

RESTRUCTURING PLAN OF UKRZALIZNYTSIA TO BE READY BY END OF 2019

A plan on restructuring of JSC Ukrzaliznytsia, which foresees division of the company into three operators (infrastructure, freight and passenger) and a production block, will be prepared by the end of 2019, Ukrzaliznytsia head Yevhen Kravtsov wrote on Facebook.
“We will fulfill the order of [President of Ukraine] Volodymyr Zelensky in time,” he said.
According to Kravtsov, a gradual plan would become a part of the implementation of the Ukrzaliznytsia’s strategy agreed with the Cabinet of Ministers and approved by the supervisory council in June 2019. After the plan is fulfilled and approved by the supervisory board, Ukrzaliznytsia will begin making certain steps under the control of the government, he added.
“[Infrastructure Minister] Vladyslav Krykliy, [Prime Minister] Oleksiy Honcharuk back European model. The main is that infrastructure remains under state regulation, when passenger and freight carriages are carried under the market conditions,” he said.
As reported, Ukrainian President Volodymyr Zelensky has instructed the Cabinet of Ministers of Ukraine to prepare a plan on restructuring of JSC Ukrzaliznytsia by the end of 2019.
The president appointed Honcharuk and Krykliy responsible for the preparation of the plan.

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JULY TAX COLLECTION PLAN OVERFULFILLED BY UAH 5 BLN

The State Tax Service (STS) of Ukraine in July 2019 managed to ensure UAH 5 billion more in tax payments to the national budget, however, total tax payments collected by the State Fiscal Service [which consists of the tax and customs services] is UAH 14 billion lower than the target figure, STS Serhiy Verlanov said.
“According to a recent update, the tax service collected UAH 5 billion more in July [than it was planned],” Verlanov said at a press briefing in Kyiv on Thursday.
Yet, he said, funds collected by the customs unit is lower than the target.
“Yes, we’ve got questions to ask the customs,” he said.

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IKEA UPDATES PLAN OF ENTERING UKRAINE

The Swedish company IKEA, the world’s largest retailer of furniture and household goods, has to adjust its plans to enter the Ukrainian market due to the delayed construction of the Ocean Mall trade and entertainment center in Kyiv, in particular, the company is considering alternative ways for launching business in Ukraine.
“IKEA confirms its desire to change the daily life of Ukrainians for the better by offering affordable products and solutions for home. Due to the delay in construction and obtaining permits for the Ocean Mall shopping center, the company is considering alternative options that will allow it entering the Ukrainian market as soon as possible,” the company told Interfax-Ukraine.
The report says more detailed information regarding the release of IKEA in Ukraine “will be made public as soon as it becomes available.”
As reported, in September 2018, IKEA officially announced the opening of the first store in Ukraine in a city store format in 2019. The object should have been opened in Ocean Mall in Kyiv.

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