OKKO IS THE LARGEST TAXPAYER AT THE FUEL MARKET IN 2020

At the beginning of September Rating. Business in official figures project has published the TOP-200 of the largest taxpayers of Ukrainian fuel market in 2020.

The authors indicated the biggest problems of present fuel market as illegal production of oil products and selling beyond the cash registers. According to the calculations of Oil and Gas Association of Ukraine, more than 20% of the gasoline market is counterfeit, which enters the market without excise duty. Besides, from 20 to 30% of fuel (depending on the type) is being sold without proper accounting.

The annual state loss from these schemes is up to 20 billion UAH. Including 4 billion UAH – underground production at mini-refineries and up to 16 billion UAH – violation of cash discipline at fuel stations.

Unfortunately for business, finding different options to reduce the tax burden is rather the norm, than the exception in Ukraine now. And reality often conflicts with the public statements of companies about their transparency and social responsibility. Therefore, according to the authors, this rating aims to demonstrate who really tries to work honestly and transparently in the fuel market.

Concern Galnaftogaz (OKKO filling stations network) took the first place in this rating, having paid 595.3 million UAH to the Ukrainian state and local budgets.

Since the project Rating. Business in official figures does not consider corporations or group of companies, and examines only legal entities (according to specific research criteria e.g., wholesale and retail fuel trade), this rating also includes other companies of holding OKKO Group - namely LLC OKKO-Retail, OKKO-Business Partner and others. In total, companies of OKKO Group paid more than 1.4 billion UAH to Ukraine’s budget in 2020.

Find the entire list of companies included in this rating here.