Metinvest Group, including its associates and joint ventures, paid UAH 21.1 billion in taxes and duties to the national and local budgets in 2019, down by 5% year on year.
In 2019, Metinvest paid UAH 7.7 billion in profit tax, a third less than in 2018.
Last year, the subsurface use royalties grew by 28% to UAH 1.9 billion, the single social contribution payments soared by 36% to UAH 4.2 billion, and individuals' income tax rose by 33% to UAH 4 billion.
Metinvest Group CEO Yuriy Ryzhenkov:
“The last year’s crisis in the steel sector affected Metinvest’s operating and financial performance, which, in turn, had an adverse effect on the Group’s tax payments to the Ukrainian budgets. Maintaining our high contribution to the country's economy, Metinvest hopes for a balanced approach of the government to taxation of large businesses and, in particular, mining and metals companies seeing one of the toughest periods in Ukraine's recent history.”