The Bureau of Economic Security closed two ferroalloy plants for evading almost 1.2 billion UAH in taxes.

The Bureau of Economic Security revealed Ukrainian oligarchs who evaded tax payments

The Bureau of Economic Security of Ukraine identified the activity of two plants owned by well-known Ukrainian oligarchs, which evaded tax payments totaling over 1.2 billion UAH during the export of products.

According to the investigation results, the plants exported their products to Austria, Cyprus, and other European countries. Employees of the plants lowered the cost of raw materials during sales to foreign buyers to avoid paying taxes. Analysts uncovered losses inflicted on the state.

The investigation also showed that more than 90% of the produced raw materials were exported, but foreign currency funds did not return to Ukraine. The total debt for the sold products of one of the enterprises amounts to 1.1 billion UAH.

From 2022 to 2023, the plants exported raw materials worth about 853 million dollars.

By court decision, detectives from the Bureau of Economic Security are conducting searches at the enterprises to find and confiscate remaining products, financial documentation, and other items that may serve as evidence of criminal activities within the framework of the criminal proceedings.