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Ukrainian Tax Authority includes LTG Cargo Ukraine in significant list

LTG Cargo Ukraine, a subsidiary of LTG Group’s rail freight company LTG Cargo, has been granted the status of a reliable tax entity by the State Tax Authority of Ukraine and added to the List of tax payers with a high level of voluntary compliance with tax legislation.

“The culture of zero tolerance to violations fostered in the LTG Group, as well as the attention and commitment to transparent operations, have been also appreciated by the Ukrainian authorities, recognising the high level of compliance by LTG Cargo Ukraine with legal acts, which develops rail freight transportation activities,” says Eglė Šimė, Head of LTG Cargo.

In order for a company to be granted this status, it is required not only to submit tax returns and pay taxes in a timely and correct manner, and properly prepare financial statements, but it is also very important to cooperate, promptly respond to inquiries from the tax authorities and consistently fulfill obligations in due time, thus demonstrating voluntariness.

“The numbers show that a smaller proportion of companies that are characterised by strong tax discipline and high levels of voluntary compliance make it to this list. According to March data, over eight thousand companies are included in the list, with only a few percent of businesses registered in the entire country, thus meeting the strict requirements is not so easy, it requires in-depth study of the system and consistent work, doing more than the minimum required,” says Saulius Stasiūnas, Head of LTG Cargo Ukraine.

According to Mr Stasiūnas, becoming a reliable tax entity allows LTG Cargo Ukraine to benefit from more expeditious and direct communication with the Ukrainian Tax Authority, a specially designated consultant/manager for compliance and certain privileges.

Established in 2020, LTG Cargo Ukraine develops rail freight transport activities in Ukraine, provides rolling stock rental and freight transport services and aims to strengthen logistics supply chains between Lithuania and Ukraine.

LTG Cargo is an LTG Group company that continues its active integration and expansion in the West. The company provides freight transport, logistics and forwarding, freight loading, locomotive and wagon repair and wagon rental services in Lithuania and abroad. LTG Cargo has established and operates LTG Cargo Polska in Poland and LTG Cargo Ukraine in Ukraine. To develop greener rail freight transport, the company has a team of 1,700 logistics professionals.