In 2024, ArcelorMittal Kryvyi Rih’s Kryvyi Rih Mining and Metallurgical Plant (AMKR, Dnipro region) paid UAH 6.6 billion in taxes and fees to budgets of all levels, up more than 60% from the total tax payments for 2023 (UAH 4.1 billion).
According to the plant’s press release on Wednesday, UAH 727 million of the budget payments for the past year went to the state budget and UAH 3 billion to local budgets. The company also paid almost UAH 830 million in unified social tax and UAH 2.1 billion in value added tax on imports of raw materials.
In the structure of taxes and fees in 2024, the largest amount was paid in land tax. Thus, the company paid almost UAH 2.2 billion in land tax to the local community of Kryvyi Rih, which is UAH 0.8 billion more than in 2023. This tax has become the main component of the growth in payments to local budgets.
Pavlo Zadorozhny, Chief Financial Officer of AMKR, emphasized that the company remains a reliable partner of the state despite the challenges of wartime and the company’s difficult financial situation.
“In 2024, the company tried to break even and carried out significant internal work to reduce costs. However, the instability of energy supply due to enemy attacks, high electricity tariffs and the need to import it, expensive logistics, and the unfavorable situation on world markets, unfortunately, created additional obstacles for us. For the third year in a row, we have been operating at a loss,” Zadorozhny stated.
According to him, despite these problems, AMKR continues to work on improving its operational and financial performance to ensure the future development of the company and its staff, as well as stable tax revenues to the state budget and local communities.
As reported, in 2023, AMKR paid UAH 4.1 billion in taxes and duties to the budgets of all levels, which is 2.1 times less than the total amount of tax payments in 2022 (UAH 8.8 billion). Of this amount, UAH 243 million went to the state budget and UAH 2.2 billion to local budgets. In addition, almost UAH 751 million of unified social tax and UAH 856 million of value added tax on imports of raw materials were paid.
In 2022, AMKR reduced its tax payments by 39.7% due to the decline in production as a result of the war – to UAH 8.8 billion in taxes and fees compared to UAH 14.6 billion in 2021.
In 2021, AMKR paid UAH 14.6 billion in taxes and duties to the budgets of all levels, which was 2.3 times higher than the total amount of tax payments in 2020 (UAH 6.4 billion).
“ArcelorMittal Kryvyi Rih is the largest rolled steel producer in Ukraine. It specializes in long products, including rebar and wire rod.
ArcelorMittal owns the largest mining and metallurgical plant in Ukraine, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Berislav.
