Metinvest Pays Almost UAH18 billion in Taxes in First Nine Months of 2022


Despite the war, Metinvest Group of Rinat Akhmetov and Vadym Novynskyi continues to provide unwavering economic support to Ukraine. Taking into account associated companies and joint ventures, in the first nine months of 2022, the Group paid almost UAH18 billion in taxes and fees to budgets of all levels in the country.

The largest component is income tax: from January to September, Metinvest's Ukrainian enterprises paid more than UAH6 billion to the state and local budgets. In second place is the single social tax, which amounted to UAH3.3 billion. This is followed by personal income tax and the fee for subsoil use, more than UAH3 billion of each of which went to the country’s treasury.

Regardless of the Russian aggression, in the first nine months of 2022, the Group’s enterprises and joint ventures increased their rent payments for iron ore mining by 40% year-on-year, to UAH2.9 billion, and payments for land by 35%, to UAH856 million.

Another significant contributor to local budgets was environmental tax, of which Metinvest paid UAH511 million in the period.

Commenting on the news, Yuriy Ryzhenkov, CEO of Metinvest Group, said: “In these difficult times, we are trying to support the economy of Ukraine as much as possible. Despite the shutdown of several enterprises in Mariupol and Avdiivka, Metinvest remains one of the largest taxpayers, thereby providing unwavering support. The blocking of the Black Sea ports due to the war has created a difficult situation regarding the logistics of the products of our mining and processing plants (GOKs) in Kryvyi Rih, lower utilisation and downtime of enterprises. However, we are looking for alternative ways to export products and improve operational efficiency, as well as support the army and population to bring the victory of Ukraine closer as soon as possible.”