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The gas monopoly alone funneled US$3.7 billion into the national budget.
Ukraine in 2020 fulfilled budget revenue targets amid the coronavirus crisis thanks to such large taxpayers as National Joint-Stock Company Naftogaz of Ukraine, crude oil giant Ukrnafta, and the international vertically integrated group of steel and mining companies, Metinvest Group.
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Ukrnafta ranked second, having paid UAH 48.2 billion (US$1.7 billion) to the national budget last year.
Metinvest Group also joined the top three taxpayers with UAH 22.1 billion (US$799.6 million) transferred to the budget. In particular, corporate profit tax and single social security tax accounted for the lion's share of payments to the budget, namely UAH 5.2 billion (US$188.1 million) each. At the same time, payments of single social security tax grew by 18% from 2019, the publication said.
In addition, Metinvest enterprises transferred UAH 4.7 billion (US$170 million) in income tax to the budgets in 2020, which was 17% up against 2019. The sources of filling the national and local budgets over the period under review were royalty payments for the use of subsoil (UAH 2.2 billion/US$79.6 million), ecotax (UAH 789 million/US$28.5 million), and land fees (UAH 713 million/US$25.8 million).
At the same time, Metinvest's enterprises located in the city of Kryvyi Rih, namely Ingulets Iron Ore Enrichment Works (GOK), Central GOK, and Northern GOK in July-September 2020 transferred double income tax and land fee to the municipality's coffers. Over the said period, Metinvest additionally replenished the budgets of all levels with UAH 113 million (US$4 million), of which UAH 78 million (US$2.8 million) was transferred to Kryvyi Rih's budget.
Noteworthy, there are over 1,600 large taxpayers in Ukraine. Such companies pay the equivalent of over EUR 1.5 million (or about US$1.8 million) each to the national budget annually.