Ukraine's Interpipe raises tax and levy payments in H1

MOSCOW. Aug 19 (Interfax) - The Ukrainian industrial company Interpipe has transferred 2.409 billion hryvni to budgets of all levels and extra-budgetary funds in January-June this year, which is up 37% year-on-year, Ukrainian media reported, citing the company's statement.

The company's payments to the state budget totaled around 1.803 billion hryvni, up 40% year-on-year, and to local budgets 306 million hryvni, up 31% year-on-year, it said. The company transferred another 300 million hryvni, up 26% year-on-year, as unified social contributions.

"The company continues to pay substantial amounts of taxes to budgets of all levels due to export orders. Interpipe produces value-added products for customers in the European Union, the United States and the Middle East," Interpipe CFO Sergei Kuzmenko said, commenting on the situation.

As reported, Interpipe transferred 1.186 billion hryvni to budgets of all levels and to extra-budgetary funds in Q1 2024, which is up 90% year-on-year. At the same time, transfers to the state budget reached 916 million hryvni, up 126% year-on-year, and to local budgets 138 million hryvni, up 29% year-on-year. The company paid another 132 million hryvni as unified social contributions.

In 2023, Interpipe paid 4.382 billion hryvni to budgets of all levels and extra-budgetary funds, up 56% year-on-year. Contributions to the state budget totaled 3.347 billion hryvni, and to local budgets 477 million hryvni. Another 558 million hryvni was transferred as unified social contributions.

"Interpipe is a Ukrainian industrial company, which produces seamless pipes and train wheels. Its products are supplied to more than 80 countries through a network of sales offices located in key markets of the Middle East, North America and Europe.

Interpipe employs around 10,000 workers.

The company operates five industrial assets: Interpipe Nizhnedneprovsky Pipe Rolling Plant (NTZ), Interpipe Novomoskovsky Pipe Plant (NMTZ), Interpipe Niko Tube, Dnepropetrovsky Vtormet and Dneprostal electric steelmaking complex under the Interpipe Steel brand.

The ultimate owner of Interpipe Limited is Ukrainian businessman and philanthropist Viktor Pinchuk and his family members. Pinchuk is a son-in-law of former Ukrainian President Leonid Kuchma.