In June, Ukrnafta paid more than UAH 700 million in taxes
In June 2020, Ukrnafta paid taxes in the amount of UAH 715 million to the budgets of all levels. This amount includes rent for exercising mineral rights, VAT, income tax, excise duty and other taxes.
The amount of taxes paid for 6 months of 2020 reached UAH 6.84 billion. Ukrnafta paid UAH 349 million of rent to the state and local budgets of different levels for the mineral rights in June 2020. Of these, UAH 17.46 million went to local budgets in accordance with the mechanism of distribution of rent for oil and gas production stipulated in the legislation.
The largest revenues from Ukrnafta’s rent received the budgets of Sumy (UAH 7.65 million), Ivano-Frankivsk (UAH 3.88 million) and Poltava (UAH 2.17 million) regions. Revenue from rent depends on the volume of hydrocarbon production in a particular region and prices for them, and is used by communities primarily for local infrastructure and social projects.