ArcelorMittal paid over UAH 6 billion of taxes in January-May

In January-May 2022, ArcelorMittal Kryvyi Rih paid UAH 6.2 billion of taxes and fees to the budgets of all levels, company press service reported.

According to the company, UAH 3.3 billion of this money went to the state budget, and UAH 861 million – to local budgets. The company also transferred UAH 511 million of the single social contribution and UAH 1.5 billion of VAT on imports of raw materials.

“In order to support the state budget of Ukraine, ArcelorMittal paid its rent payments in advance at the beginning of the active phase of the war, but, despite this, continues to pay rent in full,” the company said.

At the same time, ArcelorMittal has not received VAT refunds since March 2022, and now the amount of debt has reached UAH 2.4 billion.

“VAT refunds delay slows down the pace of resumption of production after the forced pause in March and in general significantly worsens the state of the exporting company. In addition, due to martial law, the work of the register of tax invoices was stopped. The amount of VAT paid by the plant to suppliers and contractors on unregistered invoices is UAH 1 billion,” the statement reads.

Thus, the total amount of withdrawn working capital due to problems with VAT refunds is UAH 3.8 billion.

“We still meet all financial obligations to the state, our employees and our suppliers. During the three months of the war, the company transferred more than UAH 4 billion of tax payments to the budget. We are gradually resuming production, exporting products and paying taxes in full. This is our contribution to Ukraine’s victory and strengthening of the economy,” said Serhiy Plichko, CFO of ArcelorMittal.

In total, over 16 years of operation, the company has paid UAH 90.3 billion of taxes and fees. Of these, UAH 23.2 billion is income tax.

Earlier GMK Center reported that in 2021 ArcelorMittal increased its taxes and fees payments by 2.3 times compared to 2020, up to UAH 14.6 billion. During the year, the plant paid UAH 7.2 billion to the state budget and UAH 1.9 billion to local budgets.

ArceloMittal Kryvyi Rih is a full-cycle steel enterprise, part of the ArcelorMittal group. Its activity covers the entire production chain from iron ore mining and coke production to manufacture of finished steel products. T ArcelorMittal Kryvyi Rih produces semi-finished and long products.