The Association of Taxpayers of Ukraine has recognized Philip Morris Ukraine’s significant contribution to the country’s economy by including the company in the list of the most conscientious taxpayers in 2023. Despite the challenging wartime conditions, the company continued to operate steadily, preserved jobs and increased tax payments.
According to the company, in the three quarters of 2023 Philip Morris Ukraine transferred almost UAH 40 billion to the budgets of different levels, which is UAH 10 billion more than in 2022. CEO of the company Maxim Barabash emphasized the importance of harmonizing Ukrainian tax legislation with the European one and strengthening the fight against the illegal tobacco market.
The company pays special attention to improving the excise policy. In particular, it is proposed to set excise tax rates in euros and reach the minimum level of excise taxes on cigarettes, which in the EU is 90 euros per 1000 pieces. Ukraine remains the only European country where excise rates for cigarettes and HTPs are not differentiated.
“Philip Morris Ukraine, which has been operating in the country since 1994, has invested more than USD 750 million in the Ukrainian economy. Since the beginning of the full-scale invasion, the company has allocated UAH 400 million for humanitarian projects. After the forced suspension of its factory in Kharkiv region, the company opened a new production facility in Lviv region in May 2024 with an investment of USD 30 million.