Ferrexpo PLC, a leading iron ore pellet producer and supplier to the global steel industry, has released its report on payments to governments for the year ended 31 December 2023. The report, in compliance with The Reports on Payments to Governments Regulations 2014, provides a breakdown of payments made by the company and its subsidiaries to the Ukrainian government.
The report details payments made in various categories, including production entitlements, taxes, royalties, dividends, bonuses, and more. The total payments to the Ukrainian government amounted to $32,059, with taxes paid being the highest at $19,352. The company clarified that payments relating to its mining operations in Ukraine are considered interconnected projects for the purposes of the regulations.
It's important to note that the taxes paid include those levied on the income, production, or profits of companies, excluding consumption taxes such as value-added taxes, personal income taxes, or sales taxes. Additionally, payments made in currencies other than US dollars are converted at the average foreign exchange rate for the relevant month.
The detailed report is available for download on Ferrexpo's website. For further information, individuals can contact the company directly or its media relations representatives at Tavistock. Ferrexpo's commitment to transparency and compliance with government regulations is evident in the release of this comprehensive report on payments to governments for the year 2023.