Ukrnafta returned UAH 1.2 bln of its historical tax debt
Ukrnafta returned UAH 1.2 bln of its historical tax debt

Ukrnafta, one of top 5 tax payers in Ukraine, paid UAH 13.2 bln in taxes, including UAH 1.2 bln of the overdue tax debt, for January-October of 2018.

Although there is no approved by the government decision regarding the outstanding tax debt, Ukrnafta repays it on a regular basis this year. For 10 months the company has already repaid UAH 1.23 bln, exceeding the plan for 2018 by 2.5%.

Ukrnafta recorded UAH 10.7 bln of outstanding tax debt as of the end of 3Q2018. This includes the debt owed by the company and its structural units as well as the debt for the joint activities. Ukrnafta’s approach to recording and reporting tax debt is consistent with the Ukrainian law and is supported by the independent external auditor. The bulk of the debt accumulated in 2014-2015 before the management change.

In general, Ukrnafta is paying all taxes in full. This year the company has already paid taxes by 29% more than for the whole last year (UAH 10.2 bln).