MHP tax payments in 2018 exceed UAH 3 bln

The agro-industrial holding Myronivsky Hliboproduct (MHP) by the results of 2018 increased almost 50% (to UAH 3.2 billion) the payment of taxes and fees due to increased efficiency and expansion of production activities, as well as increased sales in the domestic and foreign markets.

The largest amount of tax revenues to local budgets in the regions of the holding’s activity was provided by personal income tax (PIT). The holding's payments on PIT amounted to UAH 1.12 billion, which is 34% more year-over-year.

“MHP is one of the largest taxpayers on a national scale. Given the decentralization of local finance, MHP enterprises and divisions in regions and small towns are budget-forming and large employers. The taxes paid by enterprises of the holding remain in place and contribute to the active development of communities, form the foundation of their financial independence. Local authorities receive real financial resources for the active improvement of infrastructure. In addition to paying taxes, MHP enterprises also make social investments in the development of the territories: in 2018, MHP allocated over UAH 200 million to social and medical projects, to develop village infrastructure, to support local entrepreneurship, as well as to reconstruct and build local roads,” the company noted.

MHP increased the rent of the land by 57%, transferring about UAH 40 million to local budgets. In 2018, the amount of deductions from the holding’s single social contribution to the Pension Fund of Ukraine increased by 38% to about UAH 854 million.

The contribution of the holding's employees to Ukraine's defensive potential amounted to almost UAH 100 million. Of these, the military tax paid in 2018 amounted to about UAH 95 million, an increase of more than 34% compared to 2017. MHP sent more than UAH 4 million to support programs for families of soldiers and veterans of the United Forces Operation (UFO) as part of corporate social responsibility projects.

In the framework of corporate social responsibility projects, MHP doubled the investment to UAH 200 million in 2018.

To learn more about agribusiness in Ukraine, follow us on Facebook, on our channel in Telegram, and subscribe to our newsletter.

Completed withDisqus