Metinvest paid 2.4 times more taxes and duties in 2021

In 2021, the Metinvest Group (including associated companies and joint ventures) increased payment of taxes and duties to budgets of all levels in Ukraine by 2.4 times to ₴52.7 billion y-o-y, according to a post on the Group’s website.

Over the year, Metinvest increased income tax payments more than sixfold to ₴33 billion. Tax is the largest expenditure. In 2021, the Group increased payments of single social security tax by 10% to ₴5.7 billion y-o-y.

In the same year, Metinvest increased payments of personal income tax by 11% to ₴5.2 billion y-o-y. Over the year, subsoil use fees paid by the Group grew by a third to ₴2.9 billion.

In 2021, Metinvest paid ₴894 million of environmental tax and ₴857 million of land rent.

“Last year was a record year in terms of taxes paid in the entire history of Metinvest. That was due to a favorable market situation and an increase in the company’s operational efficiency,” said Yuriy Ryzhenkov, CEO of Metinvest.

In 2020, Metinvest increased payment of taxes and duties by 5% to ₴22.1 billion against 2019.

Metinvest is one of the largest investors in the national economy of Ukraine. Throughout its history, the Group invested over $10 billion, which accounts for 7.8% of all capital investments in the industrial sector.

Metinvest Holding LLC is the managing company of the Metinvest Group. The major shareholders of Metinvest are its co-managing companies SKM Group (71.24%) and Smart Holding (23.76%).