The amount of tax payments "ArcelorMittal Kryvyi Rih" for 5 months is equal to the annual budget of the Odessa region

Kryvyi Rih, June 9, 2021 In January-May 2021, ArcelorMittal Kryvyi Rih transferred almost UAH 4.8 billion taxes and fees to the budgets of all levels - almost 2 times more compared to the same period last year. This amount can be compared with the annual budget of the entire Ukrainian region, for example, Odessa. Of the total amount of taxes and fees, more than 2300000000 UAH received by the state budget, 716 million UAH - to local budgets. In addition, the company transferred almost UAH 454 million of a single social contribution and UAH 1.3 billion in value added tax on the import of raw materials.

This year, the situation on the world markets for metal products and iron ore raw materials has stabilized, and improved demand and price conditions have doubled tax payments compared to January-May 2020. The main increase in payments for 5 months of 2021 is provided by income tax (UAH 1.8 billion) and rent for iron ore mining (UAH 216 million). Payments by ArcelorMittal Kryvyi Rih to local budgets also increased. Here, the main driver of growth was the land tax - an increase in 5 months is UAH 282 million.

Serhiy Plichko, Chief Financial Officer of ArcelorMittal Kryvyi Rih

- We expect that the positive trend in tax payments will continue until the end of the year. Of course, this largely depends on the situation in foreign markets. The market for iron ore raw materials and rolled metal products is cyclical. The periods of growth and decline are constantly alternating. That is why support from the state is important for manufacturing companies - a balanced policy of taxation of the mining and metallurgical industry.

Help

Over the 15 years of ArcelorMittal's operation in Ukraine, the company has paid more than UAH 75 billion in taxes and fees to the state: to the state budget - UAH 24 billion, to the local budget - more than UAH 10 billion, VAT on imports - UAH 29 billion and a single social contribution - UAH 12 billion. At the same time, the environmental tax for this period amounted to more than UAH 2 billion.