For 9 months of 2021 the companies of Smart Energy Group paid in total UAH 1.3 bln in taxes. That is nearly twice as much as for the same period last year (UAH 693.0 mln). These payments include UAH 606.9 mln fee for subsoil use to the budgets of all levels. Thus, UAH 30.3 mln of subsoil tax were paid to the local budgets.

Significant increase of tax payments by Smart Energy Group is primarily evident by income tax, VAT and subsoil tax. Their growth is a result of growth of gas price during 2021.

«Stable growth of price for our resource improves financial results of our companies. In its turn, that causes increase of payments to the state budget. Meanwhile, stability of tax payments depend on production volumes increase of which needs significant investments and stable investment climate that can’t depend on changeable factor of price only,» Oleksiy Zayets, FCO of Smart Energy Group, commented.

Moreover, for the reported period the companies of Smart Energy Group allocated complementarily UAH 6.3 mln for needs of the communities on the territories of which they operate. In particular, Arkona Gas-Energy paid UAH 776 thousand to Poltava oblast budget within the bilateral agreement. It also presented gifts to first-grade pupils of Zavodske territorial community by the beginning of a school year.

The Representative Office of Regal Petroleum Corporation Limited allocated UAH 1.2 mln for the needs of Lokhvytsia community. This fund is used for turning some inpatient care facilities of Lokhvytsia district hospital into inpatient rehabilitation facilities as well for sports development, in particular for financing local football team and replacement of sport tracks cover in Yakhnyky village.

The biggest social project of the reported period is an aid of UAH 3 mln by Ukrgazvydobutok to Merefa territorial community. This money made capital repair of heating system of Merefa medical lyceum where over a half a thousand kids study real. The company also allocated UAH 800 thousand Novovodolaha territorial community for it to purchase a school bus. It also supported the unique project for kids by the Interregional Centre or Humanitarian Demining and Rapid Response of SECU and participated in establishing a new park in Rokytne village. The total sum of social help by Ukrgazvydobutok made up nearly UAH 4 million for 9 months this year.

Prom-Energo Produkt allocated over UAH 300 thousand for Novopokrovka territorial community for implementing several projects, including repair of an administrative building in Ternova village and purchase of materials for repair of Ternova lyceum facilities.

The main criteria of selection of projects for the participation of Smart Energy Group are their current importance and the benefit for as many people as possible.

Reference

Smart Energy is a part of Smart-Holding and is in charge of implementing exploration projects, commercial development of the hydrocarbon deposits. It is ranked in top 5 biggest private gas producers of Ukraine, producing over 1 mln m3 of gas per day in total.

Oil & Gas business block of Smart Energy is represented by gas producing Ukrgazvydobutok (Kharkiv region) and Enwell Energy, a listed British company having assets in Poltava (the Representative Office of Regal Petroleum Corporation Limited and Arkona Gas-Energy LLC) and Kharkiv regions (Prom-Energo Product).