"United Mining and Chemical Company" | News | SE UMCC pays UAH 477 in taxes and duties

SE UMCC pays UAH 477 in taxes and duties
SE UMCC pays UAH 477 in taxes and duties


In Jan.-Sept. 2016, SE United Mining and Chemical Company paid UAH 477 mn in different taxes and duties to both local and national budgets. Of the specified amount, corporate income tax accounted for UAH 233 mn, while the company paid nearly UAH 97 for subsoil use.
“Our company has been increasing output and sales, which resulted into positive dynamics in terms of earnings and net income. Thus, SE UMCC paid nearly half a billion hryvnia in different taxes to the national and local budgets,” commented First Deputy Director General Oleksandr Gladushko.
Over 9 months of this year, the employees of the company were paid over UAH 255 mn in wages, according to him. SE UMCC employs over 5,000 people.
“Also as an exporter, we received around UAH 92 mn in VAT refund over the specified period,” said Gladushko.
“We are hoping that the company’s financial condition will be improving as the world titanium markets recover from the crisis. The company in this case will preserve the status of a large profitable company in the government sector, which is ranked among Top 100 most profitable companies of Ukraine. SE UMCC’s plants will remain local economic mainstays. Both national and local budgets will benefit from that,” says Gladushko.
As a reminder, in August 2016, the Cabinet of Ministers of Ukraine put SE UMCC on the list of the companies subject to privatization in 2017. At the moment, the company is completing corporatization process and next year will be transferred into management of the State Property Fund for its further sale