Metinvest increases tax payments to Ukraine's budget 38% in 9M

MOSCOW. Oct 29 (Interfax) - Ukrainian mining and metals holding Metinvest including associated companies and joint ventures increased transfers to the Ukrainian budget at all levels 38% year-on-year to UAH 15.2 billion in January-September 2024, Ukrainian media said, citing a company press release.

Among the largest contributions are fees for the use of subsoil, up 2.8-fold compared to the first three quarters of 2023 at UAH 4.2 billion. The group also raised its payment of the unified social contribution by 16% to UAH 2.8 billion. Metinvest transferred UAH 2.5 billion in personal income tax to the budget, 11% higher than the figures for the first three quarters of 2023.

Its payments for land use in 9M grew 6% YoY to UAH 948 million. Environmental tax payments increased 21% to UAH 543 million. Profit tax payments fell 32% to UAH 1.9 billion.

As reported, Metinvest increased its tax payments to the budget 1.5-fold to UAH 10 billion in H1 2024. The company paid UAH 14.6 billion a into the budget in 2023.

Metinvest is a vertically integrated mining and metals group. Its main shareholders are SCM group with a 71.24% stake, and Smart Holding with 23.76%.

Metinvest Holding LLC is the managing company of Metinvest.