OREANDA-NEWS. August 29, 2008. Metinvest Group has paid over UAH 4bn in taxes for the first seven months in 2008, which is almost twice as much year on year, reported the press-centre of SCM.

The amount of taxes and duties remitted by all enterprises of Metinvest Group totalled UAH 4,081,491,508 for the seven months of 2008. The amount for the same period in 2007 made UAH 2,688,487,983. More tax payments are due to production boost of Metinvest Group and price hikes for the products made by the Group.

Metinvest Group works in full compliance with the current law and is an exemplary taxpayer. A key factor of tax payments increase is financial strategy of the Group that targets to build transparent and understandable partnership relationships, uphold tax obligations fully and on time, and lastly, develop the economy of Ukraine.

"Metinvest Group is a responsible corporate citizen, and we understand that development of Ukraine's economy directly depends on development of the key industry contributing to the budget– mining and metals sector of the country. We fully realize our responsibility and are interested in a fair and transparent financial policy towards the state", said Sergey Novikov, CFO of Metinvest Holding.