Photo from NJSC Energoatom
State-owned company Energoatom, which operates all Ukrainian-based nuclear power plants, has appealed against a court ruling under which the State Fiscal Service's central office should recover UAH 4.2 billion from the company.
The ruling was passed in September by Kyiv's district administrative court in favor of the State Fiscal Service in violation of current legislation, Energoatom said in a statement.
"The fiscal agency demands that part of Energoatom's net profit for 2014 [UAH 4.2 billion] be paid for the period when the company was in the red with losses estimated at UAH 6.5 billion," the company said.
Energoatom explains that the sum had been charged under Cabinet resolution No. 710 dated December 24, 2014, which doesn't correspond to the law of Ukraine on accounting and financial reporting in Ukraine in terms of the introduction of new procedures for calculating net profit only for a certain group of economic entities.
"What is more, the said resolution isn't in line with the guarantee agreements signed by the government of Ukraine under loan agreements concluded by Energoatom with the European Bank for Reconstruction and Development and Euratom to a combined sum of EUR 600 million, and contravenes Article 58 of the Constitution of Ukraine," Energoatom said.
Energoatom said that after resolution No. 710 had become effective, the company turned to Kyiv's district administrative court to recognize it null and void. Litigation related to the case is under way.