For Q1, 2021, the companies of Smart Energy Group paid in total UAH 327.6 mln in taxes, including UAH 168.4 mln fee for subsoil use to the budgets of all levels. Thus, UAH 8.4 mln of subsoil tax were paid to the local budgets. Therefore, the companies paid UAH 3.8 mln to Poltava budgets and UAH 4.6 mln to Kharkiv budgets.

In general, the tax payments by Smart Energy companies increased by 4.1% y-o-y. This is a result of subsoil tax payments growth (+40.6% y-o-y) that is resulted, in its turn, with gradual growth of price for natural gas and sound production volumes by the companies of the group.

“For the first quarter we have paid off all taxes at full extent. And we hope to have this ability in the future as well, despite the amendments to the customs legislations related to calculations of price for natural gas. Our subsoil tax, in particular, is not only one of the sources for the state budget but it is also a wealth of regional communities for which this tax means implementation of significant projects on their territories,” Oleksiy Zayets, FCO of Smart Energy Group, commented.

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).