Zaporizhzhia Enterprises Of Metinvest Refuse Tax Benefits For UAH 350 Million

Zaporizhzhia enterprises of Metinvest Group refused tax benefits for more than UAH 350 million in favor of the state.

This is stated in the message of the group, Ukrainian News Agency reports.

"Zaporizhcoke, Zaporizhvohnetryv, Zaporizhzhia Foundry and Mechanical Plant and the joint venture Zaporizhstal - will refrain from the tax benefits enshrined in Law No. 3050 "On Amendments to the Tax Code of Ukraine and other legislative acts of Ukraine on exemption from payment of environmental tax, land tax and tax on real estate other than land, for destroyed or damaged real estate." The amount of tax deductions, which in the grace period were additionally paid by Metinvest's Zaporizhzhia metallurgists to the state budget, exceeds UAH 350 million, of which more than UAH 200 million was received by local budgets," the statement said.

It is noted that in 2022, Zaporizhzhia enterprises of Metinvest paid all taxes in full.

"The total amount of deductions and fees paid for 2022 to budgets of all levels reached UAH 3.4 billion. Of these, Zaporizhzhia Metinvest enterprises - Zaporizhstal, Zaporizhvohnetryv, Zaporizhcoke and Zaporizhzhia Foundry and Mechanical Plant - sent almost UAH 820 million to local budgets," the report says.

As Ukrainian News Agency earlier reported, Metinvest Group ended 2022 with a loss of USD 2.193 billion against net profit of USD 4.765 billion for 2021.

In 2022, the group's revenue decreased 2.2 times, or by USD 9.7 billion, to USD 8.288 billion.

In 2022, compared to 2021, Metinvest Group reduced production of finished products by 2.6 times, or by 4.456 million tons, to 2.777 million tons.

The main shareholders of Metinvest Group are SCM (71.24%) and Smart Holding Group (23.76%), which participate in the management of Metinvest on a partnership basis.

100% of SCM's shares are owned by businessman Rinat Akhmetov.