The court allowed Ukrnafta not to pay dividends for 2018

The Sixth Administrative Court of Appeal of Kyiv has resumed interim measures that allow PJSC Ukrnafta not to pay dividends to the state for 2018. This is reported by Economic Truth with reference to Finbalance.

On April 24, the Cabinet of Ministers increased contributions of part of the net profit of state enterprises to the budget to 90% if their profit exceeded UAH 50 million.

Interim measures were introduced on June 25 by suspending the Cabinet of Ministers’ decree on the standard for net profit contributions for 2018 regarding PJSC Ukrnafta.

On September 10, these events were temporarily canceled, and Ukrnafta filed an appeal, which was approved by the Sixth Appeal Administrative Court on November 14.

Earlier, Ukrnafta informed the court that the payment of dividends in the amount of 90% of net profit, as determined by a government decree, is an “excessive burden for the company”.

Earlier it was reported that Ukrnafta paid tax debts in the amount of UAH 1.5 billion.

Tags: The Cabinet of Ministers, Naftogaz, contracts, oil, Kobolyev, court, legislation, The Minystry of Energy and Coal Mining, Top management, energy market, Ukrnafta, добыча нефти, Oil refinery plant, oil transit, law, investments

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