Metinvest paid UAH 22.2 billion in taxes and duties – up by 1.5 times year on year

Metinvest paid UAH 22.2 billion in taxes and duties – up by 1.5 times year on year

28.02.2019

In 2018, Metinvest Group’s companies paid UAH 22.2 billion in taxes and duties, up by 50% year on year. 

The Group paid UAH 11.1 billion in profit tax, which was 76% more than in 2017.

In addition, it paid UAH 3.1 billion in single social tax (a 30% increase against 2017) and UAH 2.9 billion in individual income tax (a 22% increase). The increase comes from a pay rise at Metinvest’s businesses: payments for resources* grew to UAH 2.7 billion, up by 14% year on year.

Yuriy Ryzhenkov, Metinvest Group CEO:

“As ever Metinvest is among the top 100 major Ukrainian taxpayers, and mining and metals is in the top 5 industries underlying the country’s economy. Last year was quite favourable for the steel sector. Despite the protectionism in the international markets and the shortage of locomotives, we implemented a record investment programme for the past seven years and increased salaries by 30% on average.”

* Environmental tax, mineral tax, and land fees

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