Management of ArcelorMittal Kriviy Rih has decided that the company will continue to fulfill its obligations and pay the land and property taxes due in March, despite the amendments to Tax Code approved by the State last week. The company does not plan to stop fulfilling its obligations for land and property tax as these payments are mainly going to support the local budget of Kriviy Rih, severely affected by the emergency situation created by COVID-19. ArcelorMittal Kriviy Rih, one of the largest taxpayer in Ukraine, undertakes its share of responsibility for the welfare of the local community, supporting all its employees, the residents of the city and local authorities in this unprecedented critical situation.
On March 17, the Verkhovna Rada of Ukraine adopted the Law “On Amendments to the Tax Code of Ukraine and other laws of Ukraine on support of taxpayers for the period of measures aimed at preventing the occurrence and spread of the coronavirus disease (COVID-19)”. This law, in particular, exempts taxpayers from liability for violations of tax law committed during the period from March 1 to May 31, and exempts from taxation and payment of land tax and non-residential property tax for the period from March 1 to April 30.
ArcelorMittal Kriviy Rih steadily pays taxes and fees to the budget and fully fulfills its obligations to the State and the city. Last year the total amount of taxes and fees payments of the company amounted to almost UAH 8.7 billion.
The company transferred UAH 1.6 billion to the local budgets last year. This amount increased by almost UAH 600 million versus 2018 that occurred mainly due to the land payments and personal income tax. In total, ArcelorMittal Kriviy Rih transferred over UAH 709 million of land payment to the local budget in 2019, and the amount of real estate tax comprised UAH 9.2 million. These payments will not be suspended, regardless of the force majeure circumstances existing for business.
Since the coming of the new owner in 2005, the company has transferred over UAH 69 billion of taxes and fees to the state. (AMKR/Ukrainian metal)
