18.03.2025
In 2024, businesses within the Smart Holding Group contributed over UAH 1.2 billion in taxes to budgets at various levels. These funds have been a vital contribution to supporting Ukraine’s economic resilience amid the ongoing war.
Since the beginning of the full-scale invasion, the Group’s companies have paid nearly UAH 8 billion in taxes to the state and local budgets. Additionally, over UAH 3 billion has been allocated to humanitarian aid for the population and support for the Armed Forces of Ukraine.
The largest taxpayers within Smart Holding include:
• Smart Energy Group (gas production sector) – over UAH 850 million
• Veres agro-food group – over UAH 150 million
• Smart Maritime Group (shipbuilding and ship repair) – over UAH 10 million
As one of Ukraine’s largest private investors, Smart Holding not only fulfills its obligations to the state but also actively works to attract international investments for reconstruction projects, job preservation, and the development of critical economic sectors.
**“We continue to support Ukraine’s economy by diligently meeting our obligations to the state. Meanwhile, by shutting down our gas production enterprises, the authorities are primarily harming themselves. Due to this, in 2024 alone, the government lost over UAH 1 billion in potential revenue. That means we paid UAH 1.2 billion in taxes last year, but we could have paid twice as much. Unfortunately, such political decisions by certain state officials persist.
Despite all the challenges and enormous efforts to sustain our business and workforce, we will not stop fulfilling our commitments to the state and our employees. For now, we are maintaining the workforce of businesses that have been forced to shut down—just as we continued paying salaries to employees of the Kherson shipyard during the early years of the war. However, while the shipyard’s downtime was caused by attacks from an external enemy, our gas production enterprises have been shut down due to actions taken by our own government.
Nevertheless, Smart Holding businesses remain committed to their principles and continue working for Ukraine and its people,”** said Ivan Herasymovych, CEO of Smart Holding.
It is worth noting that Smart Energy Group is one of the largest taxpayers to the state budget and has suffered significant losses due to flawed sanction policies. In Kharkiv Oblast, the company was forced to halt operations for nearly 1.5 years (April 2023 – June 2024), resulting in a loss of 195 million cubic meters of gas and UAH 1.65 billion in tax revenue for the state.
Recognizing the importance of the gas production sector, government authorities later decided to unblock the industry. However, in October 2024, new sanctions were imposed against the current beneficiaries—Cypriot citizens—leading to the shutdown of Regal Petroleum Corporation Limited’s Representative Office in Poltava Oblast and Prom-Energo Product LLC in Kharkiv Oblast.
According to company experts, these decisions will result in a loss of 85.5 million cubic meters of gas production and UAH 1.15 billion in tax revenue by the end of 2025.
