Metinvest increases tax payments by 2.4 times in 2021

Metinvest B.V. (the Netherlands), the parent company of the international vertically integrated mining and metallurgical group Metinvest, in 2021 increased payment of taxes by 2.4 times compared to the previous year, to UAH 52.7 billion.

According to preliminary data for 2021 released by the company, Metinvest Group, taking into account associated companies and joint ventures, transferred UAH 52.7 billion in taxes and fees to the budgets of all levels in Ukraine in 2021, which is 2.4 times more than in 2020.

At the same time, it is clarified that traditionally the largest payment is income tax. Last year, the Ukrainian enterprises of Metinvest, together with associates and joint ventures, replenished the state and local budgets by almost UAH 33 billion, which is more than six times higher than the year before last.

The second largest amount of payments is the social security tax, the payments of which in 2021 increased by 10% compared to 2020, to UAH 5.7 billion.

The third largest payment is personal income tax. Last year, Metinvest Group, together with associated and joint ventures, paid UAH 5.2 billion to the treasury of Ukraine, which is 11% more than similar payments in 2020.

At the same time, payment for the use of subsoil increased by a third compared to the year before last, to UAH 2.9 billion.

Significant sources of filling the state and local budgets in Ukraine in 2021 were also the environmental tax – UAH 894 million and land fees – UAH 857 million.

"The amount of taxes paid by Metinvest hit a record high last year. This was facilitated by a favorable market situation and improvement in the company's operating efficiency. As one of the country's largest taxpayers, we are pleased to do our part to support the country's economy and the health and well-being of Ukrainians during the coronavirus pandemic," Yuriy Ryzhenkov, Chief Executive Officer of Metinvest Group, said.

Source: www.en.interfax.com.ua