Ukrhydroenergo paid about UAH 2 bln taxes in 2016

Ukraine`s state-owned company Ukrhydroenergo paid about UAH 2 billion taxes in 2016, Ukrhydroenergo CEO Ihor Syrota said during celebrations to mark the Day of Energy in Kaniv.

Over 11 months of 2016, the company has paid to the budgets of different levels UAH 1.9 billion in taxes, which is almost three times more than last year, while Kaniv Hydroelectric Power Plant has paid UAH 36.6 million, of which almost UAH 18 million returned to the regional, local and village budgets either directly or in the form of subventions.

The regional budgets receive 50% of the tax for the use of water resources. The land rent and the real estate tax go to the local budget. The regional and local budgets also receive 75% tax on income of employees.

In addition, Syrota noted that the highest value for Ukrhydroenergo was nature conservation and sustainable development of society.

He said that with the support of international financial institutions such as the World Bank, the European Bank for Reconstruction and Development, and the European Investment Bank, the company carried out a large-scale rehabilitation of Ukrainian hydropower plants. More than half of the hydraulic units have been already upgraded. In particular, a new management system was introduced, which prevents the occurrence of accidents.

Currently, the international financial institutions are considering the possibility of financing projects of Kaniv PSP, Kakhovka HPP-2, and a cascade of Dniester HPP.

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