Zaporozhye enterprises associated with Metinvest Group transferred over UAH 700 million in taxes to the Ukrainian budget

Zaporizhzhya enterprises associated with Metinvest Group transferred over UAH 700 million to budgets of all levels in the first quarter of 2020. Zaporizhstal, Zaporozhgneupor, Zaporozhkoks and Zaporizhzhya Foundry and Mechanical Plant sent about UAH 202 million to the city and regional budgets. Thus, the volume of deductions remained at the level of 2019 (in the first quarter of 2019, enterprises sent more than UAH 204 million).

Metinvest Group, realizing its responsibility to the cities in which its enterprises are located, earlier decided to abandon the tax holidays provided for by Law No. 3220 “On Amendments to the Tax Code of Ukraine” to support businesses during the period of quarantine measures against coronavirus infection.

Despite the crisis in the industry and the consequences of the pandemic, the level of deductions to the local budgets of the Zaporozhye region managed to be saved in the first quarter of 2020 due to efficient work aimed at reducing operating costs, implementing energy saving programs and efficient use of production resources. This allowed not to reduce the level of salaries of employees of Metinvest’s Zaporizhzhya enterprises and, accordingly, deductions of personal income tax and a single social contribution, land tax.

It should be noted that Metinvest Group was recognized as the most attractive employer in the metalworking and mining industries industry of Ukraine. This is evidenced by the data of the independent international study of the attractiveness of the employer brand Randstad Employer Brand Research, Ukraine – 2020.

Leave a Reply

Your email address will not be published.

You may use these <abbr title="HyperText Markup Language">HTML</abbr> tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>