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JV PPC has totaled UAH 137.7 mln of rent for 5 months 2020

June 12, 2020, Kiev – JV Poltava Petroleum Company calculated UAH 137.7 mln of rental payments to the general budget of Ukraine, including 6.8 mln were accrued to the local budgets of Poltava region for 5 months of 2020, namely:

• In OTG and village councils – 3.7 million UAH
• In district budgets – UAH 2.7
• In the regional budget of the Poltava region – 420 thousand UAH

The gas and oil industry is one of the largest budget-forming sectors of the Ukrainian economy, in particular, rent is a significant contribution to the local budgets of the united communities, because 5% of the total amount allows the development and improvement of infrastructure, as well as the implementation of important social projects and improving the lives of local residents . Especially relevant today, is the provision of medical facilities with everything necessary to counter the spread of COVID-19.

“Despite the difficult times in the gas industry due to lower demand and a record drop in product prices, JV PPC continues to fill the state budget and pay rent. It is important to support the industry and provide fiscal incentives to the industry. After all, a decrease in production leads to a decrease in the tax base and as a result of a reduction in the payment of taxes and rental income to local budgets, ”notes Victor Gladun, CEO of JV PPC.

Also, JV PPC provides its employees with safe and stable work, even during the quarantine period, which allows them to better survive the crisis phase of activity in all areas of Ukraine’s employment.