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.
Insurance company PJSC IC “PZU Ukraine” (Kyiv) attracted UAH 1.322 billion in premiums in January-June 2025, which is UAH 255 million, or 24% more than in the same period last year, according to the company’s press release.
The largest increase in payments for the reporting period was recorded in the segment of compulsory civil liability insurance for owners of land vehicles (OSCPV) – by 41%, to UAH 429 million, or 32% of the total volume, CASCO – by 27%, to UAH 247 million, or 19% of the total volume.
In the first half of 2025, the company attracted UAH 325 million in insurance premiums under Green Card policies, which is 25% of the insurer’s total revenue and 26% more than in the same period of 2024.
Medical insurance accounted for 12% of the company’s portfolio, with the insurance company collecting UAH 160 million in payments under such contracts in the first half of 2025.
PZU Ukraine’s revenues from other insurance contracts in January–June 2025 amounted to UAH 160 million, or 12% of the total.
PZU Ukraine has been operating in the Ukrainian market since 1993. PZU Ukraine is supported by one of the largest insurance groups in Central and Eastern Europe, the PZU Group (which includes the parent company of PZU Ukraine, PZU S.A.).
A new group of Ukrainian children left for Baku on Monday as part of a rehabilitation program, Azerbaijan’s ambassador to Ukraine Seymur Mardaliev said.
“A new group of Ukrainian children left for Baku today as part of a children’s rehabilitation program offered by Azerbaijan. I am grateful to my colleagues from the Azerbaijani embassies in Ukraine and Moldova, who facilitated their smooth departure from Chisinau,” he wrote on social media.
According to the ambassador, 360 Ukrainian children have joined the program so far.
The National Bank of Ukraine (NBU) records cases of unlicensed activity in the market of non-banking financial services, in particular the exchange of cryptocurrencies for currency, transfer of funds and provision of loans and will strengthen its supervision over this.
“We are systematically working to limit any opportunities to use banking and payment infrastructure to serve the shadow sector of the economy(…) In the future we will intensify activities,” NBU head Andriy Pyshnyy said on his Facebook.
He stressed that detenization will contribute to the formation of a sustainable investment resource for the economy, and also reported the launch of a new area of work of the NBU – identification of unlicensed activities in the market of non-banking financial services and payment market.
“Unfortunately, we see that outside the legal framework of Ukraine and the appropriate supervision of the NBU citizens are offered services that have signs of financial: transfer and disbursement of funds, granting loans, exchange of crypto for currency”, – wrote Pyshnyy.
The head of the NBU noted that the goal is not only to identify unauthorized market participants, but also to return them to the legal field or initiate prosecution.
As reported, the National Bank continues to investigate the work of companies that may provide financial services without appropriate licenses, these are “Exchange24”, “X-Change”, “Liberty Finance” (“KYT GROUP”), “Tsarsky.io”, ‘FinMobile’ and “Trustee Plus”.
In January-June of this year, the mining and metallurgical group Metinvest, including its associated companies and joint ventures, transferred UAH 9.3 billion to budgets of all levels in Ukraine, compared with UAH 9.9 billion in the same period last year.
According to the company’s press release on Monday, the three largest payments were subsoil use fees, which amounted to UAH 2.5 billion, a single social contribution of UAH 1.7 billion, and UAH 1.6 billion in personal income tax.
In addition, Metinvest’s Ukrainian enterprises paid UAH 670 million in income tax and UAH 328 million in environmental tax in January-June 2025. Military tax for the first half of this year increased more than threefold compared to the same period in 2024, to UAH 472 million, and land tax increased by 5% to UAH 659 million.
“In times of war, paying taxes is our direct contribution to the protection and restoration of the country. After all, the financial responsibility of business is a source of strength for the army, medicine, education, and millions of Ukrainian families. We have learned to move forward even in the most difficult times — to work despite threats, to support the economy, and to help the front. We are keeping up the pace because we know that our resilience is part of our common victory,” said Yuriy Ryzhenkov, CEO of the group.
As previously reported, in 2024, Metinvest transferred UAH 19.8 billion in taxes and fees to budgets at all levels in Ukraine.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine, in the Donetsk, Luhansk, Zaporizhia, and Dnipropetrovsk regions, as well as in the European Union, the United Kingdom, and the United States.
The main shareholders of the holding company are the SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
The National Bank of Ukraine (NBU) has added Insurance Broker Insurance Space LLC and On Time Insurance LLC to the Register of Insurance Intermediaries in accordance with submitted electronic applications. According to the NBU website, its committee for supervision and regulation of non-banking financial services markets made the relevant decision on August 1, 2025.
SB “Insurance Space” (Kiev) was registered in May 2025. The size of the authorized capital is UAH 5 th.
On Time Insurance LLC (Kyiv) was registered in June 2025. The size of the authorized capital – UAH 100 thousand.
