Ukrnafta paid UAH 889M in taxes in September 2020

In September 2020, PJSC Ukrnafta paid UAH 889 million in taxes to the budgets of all levels, the company’s press service reports.

It is noted that this amount included the rent for subsoil use, VAT, profit tax, excise duty and other taxes. Ukrnafta transferred UAH 388 million in rent payments to the state and local budgets of all levels for September 2020.

“Local budgets received UAH 19.39 million in line with the rent sharing mechanism, established by the law, on the distribution of rent payments for oil and gas extraction. The biggest recipients of rent revenues from Ukrnafta were the budgets of Sumy region (UAH 8.07 million), Ivano-Frankivsk region (UAH 4.45 million) and Poltava region (UAH 2.82 million) regions,” reads a report.

The company reminded that the amount of rent paid to the local budgets depends on the volume of hydrocarbons production in the region and the price of hydrocarbons. The communities usually fund local infrastructure and social projects with rent revenues.

The amount of taxes paid by Ukrnafta for the first nine months of 2020 reached UAH 9.52 billion.

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