Key Takeaways:
• Naftogaz Group transferred UAH 80 billion in tax payments to Ukraine’s state and local budgets from January-November 2024.
• The bulk of this amount, UAH 74 billion, went to the state budget, while UAH 6 billion supported local budgets.
• Naftogaz continues its trajectory of sizeable tax contributions, following submissions of over UAH 90 billion in both 2022 and 2023.
Leading the Way for Economic Stability
Over the first eleven months of 2024, the Naftogaz Group substantially bolstered Ukraine’s finance. The company successfully transferred more than UAH 80 billion in tax payments, signaling a steadfast commitment to economic stability.
The lion’s share of the tax payments, a notable UAH 74 billion, was directed to the state budget. Meanwhile, a proportionate sum, approximately UAH 6 billion, offered necessary relief to local budgets. This considerable financial injection showcases the important role in the economic growth of Ukraine that the Naftogaz Group merits.
Aiding Infrastructure Restoration and Army Support
Notably, these tax payments aren’t just an infusion into Ukraine’s economy. They stand as a testament to Naftogaz’s unwavering support for the nation’s infrastructure rehabilitation and backing for the Ukrainian Army.
In the words of Roman Chumak, Acting Chairman of the Board at Naftogaz of Ukraine NJSC, these tax payments are a responsible step towards national stability. “In November alone, our enterprises paid UAH 8.1 billion to the state budget, and a further UAH 500 million to local budgets,” revealed Chumak. Such contributions, he asserts, are a vital lifeline in underpinning the country’s financial backbone, especially during such challenging times.
An Impressive History of Contributions
The Naftogaz Group maintains an impressive record of tax diligence, consistently providing much-needed fiscal aid to the country year after year. To put things into perspective, in 2023, the group transferred over UAH 90.2 billion, contributing significantly to the state’s overall budget. Similarly, in 2022, the group exceeded the UAH 90 billion mark, putting forward more than its fair share in tax payments. This longstanding streak of substantial tax payments cements Naftogaz’s position as a substantial pillar in Ukraine’s economic landscape.
Chumak is keen on highlighting this track record. He contends that Naftogaz, by its financial contributions, is asserting its unwavering solidarity with Ukraine’s economy.
Continued Commitment
The Naftogaz Group’s significant contribution not only has an immediate impact on Ukraine’s economy but also shapes the country’s long-term financial stability. With the company’s tradition of tax diligence providing regular infusions of capital, and as the firm continues its sterling record of tax contributions, it’s clear that Naftogaz plays a pivotal role in Ukraine’s fiscal landscape. Ultimately, such bold strides taken by Naftogaz underline its perpetual commitment to bolster Ukraine’s economy, supporting infrastructure restoration, and backing the competent Ukrainian Army. This is a commitment that Ukraine, the group itself, and indeed the rest of the world, appreciates and watches with growing appreciation and respect for forging economic stability even in trying times.