Cabinet allows Boryspil Airport pay less tax, seeking hub development

The use of released funds shall be subject to mandatory annual state financial audit.

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The government reduced for a period of 3 years the rate of payments to the state budget from the company net profit from 75% to 40%.

The press service of the Ministry of Infrastructure says the decision was taken at a Wednesday's government meeting.

"The rate of deduction to the state budget for Boryspil airport will be reduced to 40%, subject to allocating 35% of the profit for fulfilling international obligations and capital investments. The specified rule will be effective from the date of the resolution's official publication until December 31, 2020," the press service quoted Deputy Minister of Infrastructure Yuriy Lavrenyuk as saying.

It is noted that the use of released funds shall be subject to mandatory annual state financial audit.

Read alsoPM Groysman vows to build Kyiv-Boryspil high-speed railway"The government decision of should provide funding for the projects of the Boryspil Airport infrastructure development, which will allow creating an international hub," the report says.

As UNIAN reported earlier, the Boryspil Airport in 2017 received UAH 4,097 billion of income, which is 11,7% higher compared with 2016.

In 2017, Boryspil paid UAH 1.907 billion to the state budget, of which UAH 1.251 billion was dividends, UAH 281 million was income tax, UAH 247 million - tax on personal income and social security, and UAH 128 million in other payments.

UNIAN memo. The Boryspil International Airport is a state-owned enterprise home to 55% of all flights in Ukraine. The airport is the base for the largest national carrier, Ukraine International Airlines.

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