Ukrainian Resilience: Metinvest's Fiscal Fortitude

Metinvest
MetinvestImage Source: Metinvest

Synopsis:

In the face of a tumultuous Russian invasion, Metinvest stands strong as a key economic contributor to Ukraine. Despite challenges, the group paid a commendable UAH 14.6 billion in taxes in 2023, bolstering state and local budgets. CEO Yuriy Ryzhenkov highlights the company's resilience, overcoming adversities like asset losses and workforce reductions. Metinvest's steadfast commitment to tax contributions aids vital sectors, emphasizing solidarity amid ongoing trials.

Article:

Amidst the harsh backdrop of a full-scale Russian invasion, Metinvest, a stalwart in Ukraine's economic landscape, emerges as a beacon of resilience. The fiscal year 2023 witnessed the group's unwavering commitment, contributing a substantial UAH 14.6 billion in taxes and fees across various levels of Ukraine's budgets.

Key among Metinvest's fiscal contributions are the single social contribution, a robust UAH 3.3 billion, income tax at UAH 3.2 billion, and personal income tax surpassing UAH 3 billion. These substantial payments underscore the company's commitment to sustaining crucial elements of Ukraine's economic framework.

Metinvest's Ukrainian entities demonstrated a commendable uptick, increasing land payments by nearly 10% compared to 2022, reaching UAH 1.2 billion. Additionally, environmental tax payments experienced an uptrend, ascending to UAH 608 million. These increments showcase Metinvest's dedication to environmental responsibility and local financial support.

A noteworthy source of fiscal infusion into state and local coffers in 2023 was the subsoil usage fee, amounting to UAH 2.2 billion. This highlights Metinvest's multifaceted role, not only as an economic powerhouse but also as a responsible custodian of natural resources.

Yuriy Ryzhenkov, the CEO of Metinvest Group, acknowledges the arduous journey through a challenging year marked by war-related disruptions. Despite adversity, Metinvest adapted, navigating asset challenges and personnel reductions. The company's resilience is evident in its continued status as one of Ukraine's premier taxpayers.

Conclusion:

In the midst of a turbulent period, Metinvest's financial fortitude emerges as a testament to Ukrainian resilience. CEO Yuriy Ryzhenkov's reflections underscore the company's ability to weather adversities, remaining a significant contributor to Ukraine's economic stability. As Metinvest steadfastly supports the nation through tax contributions, the call is extended to fellow businesses to join this collective effort, fostering unity and strength amid ongoing trials.

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