ArcelorMittal paid 2.3 times more taxes in 11M

The Company transferred ₴13.4 billion in taxes and fees to the budgets of all levels in the same period

In January–November 2021, ArcelorMittal Kryvyi Rih PJSC paid ₴13.4 billion in taxes and fees, 2.3 times up from the same period of 2020, according to a post on the Company’s website.

In 11M, the Company paid ₴7.2 billion to the state budget and ₴1.6 billion to local budgets. The Company also transferred ₴982 million in single social contributions and ₴3.6 billion in VAT on imports of raw materials.

“Despite the deteriorating market conditions, demand and prices for steel products and iron ore in Q3, in general, we significantly increased our tax payments to the state budget against 2020. Income tax and rent for iron ore mining made up the largest increase. Regardless of the macroeconomic situation, ArcelorMittal Kryvyi Rih ensures a steady inflow of taxes and fees to budgets of all levels,” Serhiy Plichko, Chief Financial Officer at ArcelorMittal Kryvyi Rih, said in a commentary.

During 16 years of its operation in Ukraine, the Company has paid over ₴85 billion in taxes and fees, including ₴21.4 billion in income tax.

In 2020, ArcelorMittal paid over ₴6.5 billion in taxes and fees, 26.4% down from 2019.

ArcelorMittal Kryvyi Rih PJSC is an integrated steelmaking company, a part of the ArcelorMittal Group. Its activity covers the entire production route from iron ore mining and coke production to manufacture of finished metal products. The Company produces semi-finished products and rolled sections.