Business news from Ukraine

TEDIS UKRAINE INCREASES TAX PAYMENTS TO UAH 1.4 BLN IN 2020

Tedis Ukraine company increased tax payments to the budgets of all levels by 5% in 2020, year-over-year, to UAH 1.4 billion.
The company’s press service told Interfax-Ukraine on Tuesday, UAH 612 million of deductions went to the central budget, while UAH 809 million to local budgets.
“During its ten-year history, our company has consistently been one of the largest taxpayers in Ukraine, and since its inception, Tedis Ukraine has transferred over UAH 10 billion to the country’s budget,” Director General of the company Taras Korniyachenko said.
According to Tedis Ukraine, in 2020, the company paid UAH 705 million of retail excise tax on the sale of tobacco products to local budgets, which allowed it to become the largest taxpayer in Ukraine.
As reported, Tedis Ukraine in February was the first to achieve in the Supreme Court the satisfaction of the cassation appeal against the Antimonopoly Committee of Ukraine (AMCU) and the invalidation of a fine of UAH 3.4 billion. The Supreme Court said it sustained the cassation due to the impossibility of bringing any person to justice on the basis of decisions of the AMCU in other cases (having no prejudicial significance), without obligatory proof of guilt in each individual case and taking into account the erroneous legal qualification of actions of Tedis Ukraine LLC.
Tedis Ukraine is one of the largest Ukrainian distribution companies. The company employs about 2,300 employees. The regional network consists of 32 structural divisions throughout the country. The company covers a retail network of about 45,000 retail points throughout Ukraine.

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METINVEST INCREASES TAX PAYMENTS IN 2020

The Metinvest Group, taking into account associated companies and joint ventures, transferred UAH 22.1 billion in taxes and fees to budgets of all levels in 2020, which is 5% higher than the level of the year before last.
According to a Friday press release of the company, the largest payment of the group’s total payments was income tax. Last year, Metinvest enterprises paid more than UAH 5.2 billion of this tax to the treasury, which is one third less than in 2019.
This is followed by a single social security contribution, the payment of which increased by 18% compared to 2019, to UAH 5.2 billion.
Metinvest enterprises last year transferred UAH 4.7 billion of personal income tax to the budgets, which is 17% more than in 2019.
In addition, the sources of receipts of the state and local budgets in 2020 were the payment for the use of subsoil in the amount of UAH 2.2 billion, the environmental tax of UAH 789 million and the land fee of UAH 713 million.

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FERREXPO INCREASES TAX PAYMENTS BY 2.4 TIMES

The enterprises of British-based Ferrexpo Plc, which controls Poltava, Yeristovo and Belanovo ore mining and processing enterprises (GOK) in Ukraine, in January-June 2018 increased tax and duty payments by more than 2.4 times compared to the same period in 2017, to more than UAH 1.3 billion.
According to the company’s press release, in the structure of payments, Ferrexpo Poltava Mining for the reporting period transferred more than UAH 1.1 billion of taxes to the budget of Ukraine, Ferrexpo Yeristovo Mining more than UAH 189.9 million, while Ferrexpo Belanovo Mining more than UAH 5.3 million.
Poltava GOK paid over UAH 110 million to the local budget, over UAH 141 million to the regional budget, and over UAH 736 million to the national budget of Ukraine (11%, 14% and 75% respectively). The social security tax of the enterprise exceeded UAH 128 million.
Yeristovo GOK transferred over UAH 29.8 million to the local budget, UAH 36.7 million to the regional budget, and more than UAH 97.2 million to the national budget (18%, 22% and 60% respectively). The social security tax of the enterprise amounted to more than UAH 26.1 million.
Belanovo GOK paid more than UAH 2.5 million to the local budget, more than UAH 400,000 to the regional budget, and more than UAH 800,000 to the national budget (67%, 11% and 22% respectively). The social security tax amounted to more than UAH 1.5 million.

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