APPRAISAL OF DAMAGES FROM DESTRUCTION OF PROPERTY CONSEQUENCES OF MILITARY AGGRESSION OF THE RUSSIA FEDERATION IN UKRAINE

Abstract

One of the most important economic aspects in the conditions of martial law in Ukraine is the problem of assessing losses due to the destruction and damage of property in connection with the armed aggression of the Russian Federation, as well as lost profits due to impossibility or obstacles in the conduct of economic activity. The social experience and practice of the EU countries substantiate the expediency of forming a methodology for determining damage and the amount of damage caused to enterprises during war in Ukraine. In order to improve the mechanism for determining the damage and losses caused to Ukraine as a result of the armed aggression of the Russian Federation, the International Valuation Standards Committee is working closely with the European Association of Appraisers. In this regard, it is proposed to introduce a universal method of determining the damage caused to immovable and movable property in Ukraine as a result of military aggression of the Russian Federation, taking into account the experience of European countries. The need to implement this methodology is due to the appeal of self-regulated organisations of appraisers, as well as subjects of appraisal activity, to the State Property Fund of Ukraine. In this regard, the article analyzes existing methods of determining damage and losses caused to Ukraine as a result of an armed aggression of the Russian Federation in accordance with the procedure for determining damage and losses, starting from February 19, 2014. The article analyses several approaches to the assessment of war damage and proposes to use the cost approach with consideration of the residual replacement cost. The stages of valuation of damaged and destroyed property when applying the cost approach are proposed. The authors analysis of the impact of inflationary processes on the value of assessed immovable and movable property was carried out, and also specified and carried out a grouping of directions for determining damage and losses caused to Ukraine as a result of an armed aggression of the Russian Federation.