17 feb. 2020

Metinvest paid UAH 21.1 billion of taxes and duties

In 2019, Metinvest Group, including its associated companies and joint ventures, transferred UAH 21.1 billion of taxes and duties to the budgets of all levels, which is 5% less than last year.

In 2019, Metinvest paid UAH 7.7 billion of income tax, which is a third less than in 2018.

In addition, mineral royalty payment increased by 28% last year to UAH 1.9 billion, the payment of single social contribution – by 36% to UAH 4.2 billion, and the personal income tax – by 33% to UAH 4 billion. 

Yuriy Ryzhenkov, Chief Executive Officer of Metinvest Group:

"Last year's metallurgical crisis affected Metinvest's operating and financial performance, which in turn affected the Group's tax payments to the Ukrainian budget. Ensuring a consistently high contribution to the country's economy, Metinvest hopes for a balanced approach by the state to taxation of large businesses, and especially mining and metals companies, which are going through one of the most difficult periods in the modern history of Ukraine.

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