Ukrnafta paid more than UAH 11B of taxes in Jan-Nov 2020

Ukrnafta paid more than UAH 11B of taxes in Jan-Nov 2020

Ukrinform
In January-November 2020, PJSC Ukrnafta paid UAH 11.25 billion in taxes to the budgets of all levels, the company’s press service reports.

“In November 2020, PJSC Ukrnafta paid UAH 846.9 million of taxes to the budgets of all levels. This amount includes rent payments for subsoil use, VAT, income tax, excise duty and other taxes. The amount of taxes paid for 11 months of 2020 reached UAH 11.25 billion,” reads the report.

In November, the company transferred UAH 432.7 million of rent payments for subsoil use to the state and local budgets of various levels.

In particular, local budgets received UAH 21.6 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 8.9 million), Ivano-Frankivsk region (UAH 5.02 million) and Poltava region (UAH 3.5 million).

The company reminds 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.

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