Interpipe, a Ukrainian industrial company, in January-June of this year increased payment of taxes and fees to the budgets of all levels and extra-budgetary funds by 10.4% compared to the same period last year, to UAH 1.49 billion, the company’s Facebook page says.
At the same time, it is specified that the favorable situation on the external markets of pipe and railroad products allowed the enterprises of Interpipe to increase production volumes. The demand on the Ukrainian market continues to stagnate.
“Moreover, the main risk in the second half of the year is the uncontrolled export of scrap metal. Already in the summer the company is experiencing a serious shortage of raw materials, which may lead to a decline in production and, accordingly, a decrease in tax payments,” the press release said.
As reported, Interpipe in the first quarter of 2021 increased payment of taxes and fees by 4% compared to the fourth quarter of last year, to UAH 590 million.
In 2020, the company paid UAH 2.54 billion in taxes and fees, reducing payments by 22% due to a drop in demand because of the coronavirus. At the same time, in the first quarter of 2020, the company increased payment of taxes and fees by 3% compared to the same period in 2019, to UAH 803 million. In the first half of 2020, Interpipe reduced payment of taxes and fees by 10%, to UAH 1.35 billion due to the coronavirus pandemic and a decrease in demand for products. For the nine months of 2020, the company paid almost UAH 2 billion in taxes and fees.
In 2019, Interpipe increased tax payment by 50% compared to 2018, to UAH 3.25 billion.