Metinvest paid more than 14 billion UAH of taxes

Metinvest group donated approximately 14.1 billion UAH to budgets of all levels in 2016. Despite rising costs, tariffs of natural monopolies, infrastructure problems and ongoing hostilities in Eastern Ukraine, the group managed to keep the total amount of tax deductions at the level of 2015.

The amount of taxes paid by the Metinvest excluding VAT on imports increased from 9.26 billion in 2015 to 9.36 billion in 2016.

More than any other increased payments of land tax at 89% (with 381 million UAH to UAH 721 million) and income tax – 52% (from 1,522 billion to 2,323 billion UAH). At the same time 22% decrease in the amount of the paid unified social contribution (2,731 billion to 2,222 billion UAH). This is due to a decrease in the rate of the single social contribution (ERU), which entered into force in early 2016.

“Maintain the size of taxes paid in 2016 at the level of the previous year is an indication that despite all the current difficulties Metinvest group continues to be responsible taxpayer, who is one of the leading representatives of Ukrainian business at the amount of taxes paid. We realize that the budget of our country is in dire need of resources to implement programs of social protection of the population and infrastructure development. Due to the process of fiscal decentralization, all large amounts of tax remain in place. Residents of Zaporozhye, Krivoy Rog, Mariupol and other settlements, where Metinvest’s enterprises are town-forming, are now increasingly feel the effect of our work. And the leaders of the local authorities of these cities have more resources to make life of citizens more comfortable,” – said the General Director of Metinvest group Yuriy Ryzhenkov.