"United Mining and Chemical Company" | News | UMCC pays nearly UAH 580 mn in taxes

UMCC pays nearly UAH 580 mn in taxes
UMCC pays nearly UAH 580 mn in taxes

21.11.2017

In 2017, the company continues to increase its contributions to the national and local budgets of Ukraine and to be a socially responsible enterprise.
For the third year straight, PJSC United Mining and Chemical Company has increased its payments to the national and local budgets. Specifically, the company paid UAH 579.2 mn in taxes and fees to the budgets of all levels over January-September 2017, up 37.5% over the same indicator last year. In January-September 2016, the company paid UAH 361.4 mn in taxes to the national and local budgets.
Substantial growth of the tax load over the reported period is due to payment of record dividends by the company in the amount of UAH 321.8 mn for the year 2016 in July this year.
As a reminder, PJSC UMCC completed corporatization in the end of last year and transitions from unitary organizational structure into a public joint stock company, which is why the company had to pay dividends to the state in the amount of 50% of net revenue for the previous year.
Also, UMCC increased payments of the fee for the subsoil use over the reported period by UAH 11.7 mn, having paid to the state UAH 103.8 mn in this fee.
In 2017, PJSC UMCC motivated its employees by raising base rates and wages, which resulted into an increase of payments of the single social tax by 17% to UAH 75 mn. The payroll in the company grew from UAH 278.6 mn to UAH 349 mn over this period.
Overall, PJSC UMCC paid UAH 1.003 bn in taxes, mandatory fees and wages over the period of 9 months in 2017. This indicator for the same period last year was UAH 701.6 mn.
PJSC UMCC thus has once again confirmed its images of a state-owned enterprise the national and local budgets depend upon, thus raising its own social responsibility to the Ukrainian citizens.
 
“We understand how important the role of the state enterprises is in the establishment of the country in the period of economic recession and combat actions in the East. We are happy that our company improves social standards in Ukraine through payment of taxes; in particular, it can join such important processes as renewal of basic social institutes – education, medicine. We are proud to be making serious contribution into improving national defence capability. Effective operation of UMCC allows for increasing the national budget expenditures on increasing salaries and pensions to Ukrainians,” comments Acting Chairman of the Board of PJSC UMCC Oleksandr Hladushko.