In January-May 2021, ArcelorMittal Kryvyi Rih transferred almost 4.8 billion hryvnia in taxes and fees to the budgets of all levels, which is almost 2 times more compared to the same period last year.
As calculated at the company, this amount can be compared with the annual budget of the whole Ukrainian region, for example, Odessa.
“This year, the situation on the world markets for metal products and iron ore raw materials has stabilized, and the improvement in demand and the pricing environment made it possible to double tax deductions compared to January-May 2020,” the press service of ArcelorMittal Kryvyi Rih PJSC said.
“We expect the positive trend in tax payments to continue until the end of the year. Of course, this largely depends on the situation in foreign markets. The market for iron ore and rolled metal products is cyclical. The periods of growth and decline are constantly alternating. That is why support from the state is so important for manufacturing companies - a balanced policy of taxation of the mining and metallurgical industry, ”commented Serhiy Plichko, CFO of ArcelorMittal Kryvyi Rih.
Of the total amount of taxes and fees, over 2.3 billion hryvnia went to the state budget, 716 million hryvnia - to local budgets. In addition, the company transferred almost 454 million hryvnias of a single social contribution and 1.3 billion hryvnias of value added tax on the import of raw materials.
Public Joint Stock Company "ArcelorMittal Kryvyi Rih" occupies a leading position among the largest enterprises of the mining and metallurgical complex of Ukraine and is part of an international corporation
ArcelorMittal is the world's # 1 steel producer and one of the largest foreign investors in the country. PJSC "ArcelorMittal Kryvyi Rih" is an enterprise with a full metallurgical cycle, which includes coke-chemical production, mining production (open-pit mining and underground ore mining) and metallurgical production, which includes sinter blast furnace, steelmaking and rolling departments.
ArcelorMittal is a world leader in steel production. ArcelorMittal has a leading position in the world's major steel markets, including the automotive, construction, home appliances and packaging industries. ArcelorMittal is listed on the stock exchanges of New York (under the MT trademark), Amsterdam (MT), Paris (MT), Luxembourg (MT), Barcelona (MTS), Bilbao (MTS), Madrid (MTS) and Valencia (MTS) ).
