DTEK Oil&Gas's contribution: UAH 1.42 billion paid in subsurface natural resource tax in 2019

DTEK Oil&Gas's contribution: UAH 1.42 billion paid in subsurface natural resource tax in 2019

07.02.2020
DTEK

In 2019, DTEK Oil&Gas paid UAH 1.42 billion in subsurface natural resource tax. This money was transferred to the national budget of Ukraine. Also, the company paid UAH 71 million in subsoil use royalties to the local budgets of Poltava Oblast where it extracts hydrocarbons. 

Thus, the company's payments to the regional, municipal and village budgets of communities included:

  • •    UAH 28.4 million to Poltava regional budget
  • •    UAH 6.59 million to Machukhy community budget
  • •    UAH 4.59 million to Savyntsi village council budget
  • •    UAH 7.42 million to Kovalivka village council budget
  • •    UAH 9.18 million to Myrhorod Raion budget
  • •    UAH 14.85 million to Shyshaky Raion budget

Local communities used the funds to develop the critical infrastructure and implement healthcare and energy efficiency projects: repairs and landscape improvement of kindergartens and school areas, reconstruction of community centres and road repairs.

As a reminder, starting from 1 January 2018, 5% of royalty payments from oil and gas companies have been channelled to the local budgets of the regions where they operate. This is a requirement of the Law of Ukraine No 1793 VIII On Amendments to the Budget Code of Ukraine Regarding the Royalties for Use of Subsoil for the Extraction of Oil, Natural Gas and Gas Condensate. Thus, over the last two years DTEK Oil&Gas has paid UAH 169 million to the local budgets in the royalties.