INK Contributed 6.7 Billion Rubles, in Taxes, to the Irkutsk Region’s Government in the First Half of 2017

August 14, 2017

Tax payments of INK and its subsidiaries (collectively, INK Group) to the consolidated budget of the Irkutsk region in the first half of 2017 amounted to 6.7 billion rubles, an almost 150% increase relative to the same period in 2016.
ИНК перечислила в первом полугодии 2017 года более 300 млн рублей налогов и платежей на территории Усть-Кутского района

The growth in tax payments follows the 40% increase of oil price in the Asia-Pacific region, as in the first half of 2017, the average price for the oil brand Dubai reached 51 USD/bbl, in comparison to 37 USD/bbl found in the same period of 2016. INK’s production fully executed its production plan.  

The volume of income tax, in specific, exceeded a 65% increase due to the growing number of company’s employees. As of the beginning of July 2017, INK retained over 6,500 employees.  

INK Group remains the biggest tax payer in the Irkutsk region. In 2016, tax payments of the company to the consolidated region’s treasury were more than 11.1 billion rubles and comprised 8.5% of the regional budget. In 2017, tax payments of INK could reach 10% of the regional budget. 

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