GTS operator paid UAH 1.5 billion in taxes

In the first quarter of 2020, Ukrainian GTS Operator paid taxes and fees to the budgets of all levels in the total amount of UAH 1 billion 511 million. This was reported by the press service.

“The GTS operator takes the necessary measures to protect employees from coronavirus infection and ensures uninterrupted gas transmission for Ukrainian and European consumers. And no less important now, when the economy was forced to stop, we continue to earn money for Ukraine, and we are replenishing the state budget in a timely and significant amount”, said Serhiy Makohon, Director General of the OGTSU.

The largest part (85%) was made up of value added tax (VAT) – UAH 1 billion 291 million, which is 2% of the total VAT revenues to the state budget of Ukraine from the beginning of the year.

Also, during January-March, UAH 111 million of the single social security tax, UAH 101 million of personal income tax and UAH 8.4 million of military duty were paid to state and local budgets.

To recap, on January 1, 2020, after a successful unbundling from the Naftogaz Group, the GTS Operator of Ukraine began operating as an independent operator of the Ukrainian gas transmission system.

It was previously reported that in 2020, gas imports grew by 76%, and transit decreased by 53%.

Tags: gas, Naftogaz, contracts, hydrocarbon production, legislation, EU, Top management, gas imports, energy market, gas transit, GTS, коронавирус, foreign affairs, taxes, unbundling, Gas market, stocks, GTS Operator, pipeline, Makohon, OGTSU, infrastructure, natural gas, quarantine, pandemic

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