By KYIV. Nov 10 (Interfax-Ukraine) – With the outbreak of the full-scale war, the mining and metallurgical group Metinvest refused tax benefits due to the understanding of the need for funds for Ukraine’s victory, said the group’s financial director Yulia Dankova in an interview with dsnews.ua.
Despite the full-scale Russian invasion of Ukraine, Rinat Akhmetov’s Metinvest remains a pillar of the country’s economy, according to a company press release, noting that money for the army is the money of Ukrainians, primarily citizens and businesses operating in the state.
It is stated that the lion’s share of the country’s financing is provided by taxes. According to the State Treasury Service, the share of tax revenues in the consolidated budget (state and local) was 61.2% last year and 53.2% for eight months of this year. If we only analyze the state budget, then the share of taxes in it was 53.1% last year and 44.9% this year, respectively.
Among the tax sources, the largest contribution to the state budget is VAT – 21.4%, tax and levy on personal income – 6.6%, excise tax – 6.5% and corporate income tax – 6.2%.
According to the State Tax Service, in January-September 2023, the processing industry and trade paid the most to the budgets of all levels.
The financial director clarified that one of the largest and most illustrative cases is that of Metinvest, although the group last year lost more capacity than any other business in Ukraine, in particular, plants in Mariupol. However, after this, the group rebuilt the business and created new supply chains for exporting products.
In her opinion, independence for foreign assets, delegation of powers to people on the ground in Ukraine, support for employees, civilians and the Armed Forces of Ukraine are the main factors that helped Metinvest stay afloat. It continues to work for victory and remains one of the largest taxpayers in Ukraine: in the first half of 2023 alone, the company paid more than UAH 6.3 billion.
