“In January-June 2018, Ukrnafta paid UAH 7.4 billion of taxes, including UAH 690 million of the overdue tax debt. Ukrnafta paid all its tax liabilities over the first half of the year. The company continues to repay the outstanding tax debt on a regular basis along with all current taxes,” reads the report.
Also, Ukrnafta plans to repay UAH 1.2 billion of tax debt in 2018.
“Ukrnafta’s conservative plan envisages repayment of UAH 1.2 billion in 2018,” reads the report.
At the same time the company stated about the risks to repayment of the overdue tax debt such as the attempts by the regulator to block its production licenses as well as the instability of the state-run oil auctions where the company is required to sell its oil and condensate and the starting prices are set based on the formula approved by the government.
According to Ukrnafta, the company’s outstanding tax debt made up UAH 11.05 billion as of June 30, 2018, which includes the debt owed by the company and its structural units.