In the first quarter of 2020, Zaporizhzhia enterprises associated with the Metinvest Group transferred more than 700 million UAH to the budgets of all levels. About 202 million UAH were allocated to the city and regional budgets from “Zaporizhstal”, “Zaporizhogneupor”, “Zaporizhkoks’ and “Zaporizhzhia Foundry and Mechanical Plant” for this period. Thus, the volume of deductions remained at the level of 2019 (in the first quarter of 2019, enterprises sent more than 204 million UAH).
Metinvest Group, recognizing its responsibility to the cities where its enterprises are located, earlier decided to abandon the tax holidays stipulated by law No. 3220 “On Amendments to the Tax Code of Ukraine” to support business during the period of quarantine measures against coronavirus infection.
Despite the crisis in the industry and the consequences of the pandemic, the level of contributions to the local budgets of the Zaporizhzhia region was maintained in the first quarter of 2020 due to effective work aimed at reducing operational costs, implementing energy-saving programs and efficient use of production resources. This allowed us not to reduce the level of wages of employees of Zaporizhzhia enterprises of Metinvest and, accordingly, deductions of personal income tax and a single social contribution, land tax.
Note, that Metinvest Group was recognized as the most attractive employer in the metalworking and mining industries of Ukraine. This is evidenced by an independent international study of the attractiveness of the employer brand Randstad made by the Employer Brand Research, Ukraine 2020.