Ukraine's fiscal service expects resumption of current royalties payment by Ukrnafta in June
The State Fiscal Service of Ukraine (SFSU) expects that PJSC Ukrnafta will resume the payment of oil and gas condensate royalties in June after a bread due to the formation of the new auction committee to sell oil, gas condensate of own production and liquefied gas, SFSU chief Roman Nasirov told reporters in Kyiv on Tuesday.
In his words, this was the reason why Ukrnafta's debts for royalties exceeded UAH 1 billion.
At the same time, he said that the company pays other taxes, including VAT and corporate profit tax, in due time.
The Ukrainian Interbank Currency Exchange reported that the price of oil at an auction of Ukrnafta on May 31 grew by 19.7%, or UAH 1,607 per tonne, to UAH 9,774 per tonne compared to the previous auction held on April 20. The company sold 133,060 tonnes worth UAH 1.301 billion.
During the April auction, the company sold 148,930 tonnes worth UAH 1.216 billion with the price seeing a decline by UAH 0.475 per tonne.
Early in June, Ukrnafta reported that in 2016 it paid UAH 1.574 billion in current liabilities, including UAH 824 million in royalties, including UAH 98 million in April.
As was reported, the company's supervisory board appointed a stockholders' meeting for July 7. A proposal regarding financial recovery for the settlement of about UAH 11 billion in tax debts to the budget is on the agenda.
In 2015, Ukrnafta posted UAH 5.441 billion in net losses against UAH 1.265 billion in net profit in 2014. The company's revenue in 2015 rose by 3.1%, to UAH 28.76 billion.
Ukrnafta is Ukraine's largest oil producer. National joint-stock company Naftogaz Ukrainy owns 50% plus one share in Ukrnafta, while a group of companies affiliated with PrivatBank's shareholders holds 42% of shares.