According to the results of 2019, NPC Ukrenergo surplussed the previous year budget transfers by 80%: 3.4 bln UAH against 1.9 bln UAH.
Due to this, the Company entered the TOP-20 largest taxpayers in Ukraine according to “Rating” magazine, rising from 47th to 18th position in the overall standings. At the same time, among power companies, Ukrenergo rose by 7 points, occupying 10th position (in 2018 – 17th).
The increase in deductions was due to an increase in payments from income tax, value added tax (VAT), and personal income tax. Accrual and payment of VAT increased almost 1.5 times (from 543.9 mln UAH to 1.426.8mln UAH) after implementation of a new model of the electricity market on July 1, 2019.
The increase in personal income tax was induced by rising labour costs. In 2018, personal income tax amounted to 363.5 mln UAH, and in 2019 – 414.3 mln UAH.
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