In 2023, the VESCO companies in Ukraine paid UAH 155.5 million in taxes and duties to budgets of all levels. Within this amount, UAH 20.3 million went to the state budget, while UAH 135.2 million were received by local budgets.
The land tax accounts for the largest share of the 2023 tax and duty payments, totaling over UAH 97.7 million paid to local budgets of the communities where VESCO’s production facilities in Ukraine are located.
Yevhen Tsymarman, CEO of VESCO Group in Ukraine:
“Tax contributions are critical for enabling the government to perform its responsibilities, even more so in times of war businesses must help the state withstand economic instability. VESCO’s enterprises in Ukraine have weathered with dignity yet another difficult year of war. The systematic shelling of the areas where the group’s main production facilities are located causes significant problems with capacity utilization, yet nevertheless we remain a budget-forming business for some communities in the eastern region and regularly pay salaries. In 2024, we intend to increase production volumes, which will also result in higher budget revenues at all levels to support our country.”
Personal income tax and unified social contribution are among the largest tax disbursements with total amount of over UAH 36.9 million and UAH 33.0 million, respectively. These funds are required to pay the salaries of municipal enterprise workers, supply hospitals with necessary equipment and medications, and support communities.
