Tag: Ferrexpo

Ferrexpo is a Swiss-headquartered iron ore mining group, listed on the London Stock Exchange, and recognised as one of the world’s largest exporters of iron ore pellets. It operates primarily through mining and processing subsidiaries in Ukraine, supplying steel producers across Europe and Asia.

Ukrain vs PrJSC "Poltava GZK", June 2022, Supreme Administrative Court, Case No 440/1053/19

Ukrain vs PrJSC “Poltava GZK”, June 2022, Supreme Administrative Court, Case No 440/1053/19

/ Benchmark, Range and Median, Commodity Transactions, Comparability Analysis, Transfer Pricing Methods, Arm’s length range, Benchmark study, Commodities, Comparability factors, Cost of freight, Differences in quality, Ferrexpo, Mining, Platts quotes, Quoted price
A Ukrainian subsidiary of the Ferrexpo group, Poltava GZK, priced intra-group sales of iron ore pellets using Platts quotations under the CUP method. Tax authorities challenged the use of lower-grade price references for higher-quality pellets and disputed freight cost adjustments. After lower courts sided with the taxpayer, Ukraine's Supreme Administrative Court partially reversed those decisions in June 2022, ruling predominantly in favour of the tax authorities ... Read more