LONDON, Dec. 9 – Difficulties with VAT reimbursements are a common problem for almost all investors in Ukraine, according to participants of a conference dedicated to Ukraine and organized by the Economist magazine, together with the Foundation for Effective Governance in London on Tuesday.

"VAT reimbursement is a type of cancer. I saw cases in which companies went bankrupt due to the non-reimbursement of VAT. The government uses the money as an interest-free investment," said Mohammad Zahoor, the founder and head of ISTIL Group.

Sharing experience of investing in Ukraine, he advised knocking on all doors and making every lobbying effort to achieve VAT reimbursement.