JTI Ukraine, one of the largest companies on the market, paid UAH 21.2 billion in taxes to the state budget in the first half of 2025, which is 75% more than in the same period of 2024.
“The main factors behind the growth were legislative changes, in particular the increase in excise tax rates, as well as improvements in the company’s operating performance and changes in the exchange rate,” the company said in a press release on Monday.
According to the press release, excise taxes traditionally accounted for the largest share of tax revenues, amounting to UAH 16.4 billion, which is 81% more than in the first half of 2024.
It is noted that VAT payments increased by 73% to UAH 2.76 billion as a result of stable demand, adaptation to regulatory changes, and balanced cash flow management.
“Significant growth was also recorded in other areas: income tax (+45%), customs duties (+37%), single social contribution (+24%), personal income tax and military tax (+36%),” according to a press release quoting JTI Ukraine CFO Olga Sulitska.
The company added that in the second half of the year it plans to strengthen risk management while maintaining stability in tax and social obligations.
JTI Ukraine is part of Japan Tobacco International (headquartered in Geneva), the international tobacco business of the Japan Tobacco group of companies (headquartered in Tokyo). It has been operating in Ukraine since 1999 and is currently represented by two companies with over 800 employees: JTI International Company Ukraine, with its central office in Kyiv, and four regional offices and a factory in Kremenchuk (Poltava region), JTI International Ukraine.
JTI Ukraine manufactures products for both the domestic market and for export to nine countries around the world. The declared investments over 26 years of operation amount to over $433.7 million, with additional investments of $60 million planned for 2024–2026 in the category of tobacco products for electric heating (TPE).
According to YouControl, JTI International Company Ukraine increased its revenue by 37.7% to UAH 18.60 billion in the first half of this year, and its net profit by 15.7% to UAH 1.11 billion.
Revenue of JT International Ukraine grew by 61.8% in January-June this year, to UAH 4.74 billion, while net profit doubled to UAH 1.23 billion, according to YouControl data.
As reported, another major player in the tobacco market, Philip Morris Ukraine, previously reported a 17% increase in tax payments for January-June 2025, to UAH 28.9 billion (excise tax – UAH 22.9 billion, VAT – UAH 5.4 billion).
According to the Ministry of Finance, excise tax revenues in the first half of 2025 increased by 45.7% to UAH 132.7 billion.
