PJSC Ukrnafta reports that the decision of the Supreme Court of Ukraine regarding the listing of 2 billion cubic meters of natural gas as a tax pledge is not final – the Supreme Court of Ukraine sent the court case for a new trial in the first instance court.

Thus, the courts did not take decision on the need to transfer natural gas to the tax pledge. Before this case is resolved, the application for the implementation of the "full range of measures envisaged by the Tax Code" would be premature and considered by Ukrnafta as a pressure from the state acting through the Office of Large Taxpayers of the SFS of Ukraine. PJSC Ukrnafta insists on the realization of its right to transfer 2 billion cubic meters of natural gas as a tax pledge.

To remind, PJSC Ukrnafta offered an effective mechanism for repayment of tax arrears – it was proposed to use 2 billion cubic meters of gas, which is on the balance sheet of the company, as liquid assets. Ownership of natural gas is confirmed by the primary accounting documentation and valid court decisions. The minimum market value of this volume amounts to UAH 16.8 billion, which fully covers the tax debts of the company to the budget. However, the SFS refused to list this property, therefore PJSC Ukrnafta appealed to the judicial authorities to protect the violated rights and interests.

We look forward to a balanced and constructive position of the Office of Large Taxpayers of the SFS of Ukraine on the hereinabove, based on the rule of law, regardless of the influence of subjective factors.

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