Naftogazvydobuvannya Increased its Tax Payments by 67%

Naftogazvydobuvannya Increased its Tax Payments by 67%

Oil and gas16 February 2017

Naftogazvydobuvannya, a DTEK Oil&Gas company, paid UAH 4.9B of taxes to the local and state budgets in 2016. This is 67% more than in the previous year. According to the SFS records, the company hit the top15 Ukrainian largest taxpayers.

Naftogazvydobuvannya Increased its Tax Payments by 67%

The amount of taxes paid increased mainly due to 25% growth of natural gas extraction and the sale of a portion of products extracted in 2015. “This is a very good example of a potential that Ukrainian gas extraction has. And its development is important not only for Ukraine’s energy security. It also plays an important role in generating the government’s revenue, attracting investments to the economy, and creating thousands of jobs,” emphasised Igor Shchurov, CEO of DTEK Oil&Gas. “Presently, the industry’s growth rate is slowing down. This is why the task to be undertaken by us together with the state authorities is to find solutions that will help overcome negative trends and ensure maximum efficiency of Ukrainian gas extraction.”

Reference

DТЕК is the largest private investor in Ukraine’s energy sector.
DTEK Group produces coal and natural gas, generates electricity at the termal, solar and wind power plants, distributes electricity, supplies electricity to end consumers, provides energy efficient solutions and develops a network of EV charging stations.
In 2018, DTEK’s capital investments totalled UAH 20 bln. besides, the company paid UAH 27 bln of taxes. DTEK employs 80 thousand people. The company is 100% owned by SCM Limited. Ultimate beneficial owner – Rinat Akhmetov.

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