OREANDA-NEWS. September 05, 2008. This figure is 8.5% higher than a year ago. This information comes from SCM Group consolidated statements for 2007 produced to IFRS and audited by PricewaterhouseCoopers, reported the press-centre of SCM Group.

SCM Group total tax payments in 2007 exceeded UAH 6bn. Mining and metals holding (Metinvest) and power holding (DTEK) of the Group have the heaviest tax burden. DTEK paid over UAH 1bn in taxes (including profit tax) in 2007, and Metinvest Group - over UAH 5bn. Central and Northern Ore Mining and Processing Integrated Plants alone (Metinvest Group) paid over UAH 1bn.

According to data provided by State Tax Administration of Ukraine SCM Group is one of the best taxpayers in Ukraine. In particular, State Tax Administration of Ukraine reported that as at 1 July 2008 SCM Group had one of the best balances of payments to state and local budgets among Ukrainian financial and industrial groups, with the tax payment growth rates in 2008 being much higher than gross income growth rates.

"Paying taxes in full and in a timely manner is a fundamental business approach at all levels of SCM Group. ZAO SCM, industrial holdings, and each enterprise pay taxes to state and local budgets," stated Oleg Popov, SCM CEO, in his interview on taxation issues. "Tax payments of the Group grow from year to year. The government know about this and appreciate it, I hope.  At least, Group enterprises - from mining and processing integrated plants to our hotels - receive regular recognition of this fact from State Tax Administration of Ukraine".