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JSW paid almost PLN 2.8 billion in taxes and fees

In 2011, Jastrzębska Spółka Węglowa paid a record-breaking amount of almost PLN 2.8 billion in taxes and fees, which exceeds the amount paid last year by over PLN 500 million. A large portion of that amount came in to the state’s and the local governments’ budgets.

The Company summed up their last year commitments to the tax office, municipalities and other institutions. In 2011, the Company paid almost PLN 2.8 billion in taxes and liens, which exceeds the amount paid last year by PLN 685 million.

“This record-breaking amount paid by our Company gives clear evidence of mining industry being the same tax payer as other sectors of economy. We do not benefit from any relief regarding our tax commitments and other fees,” emphasises Jarosław Zagórowski, President of the Management Board of JSW S.A., and he adds: “the amount of taxes is impressive, those are very considerable amounts, even for such a large industrial group as ours. It is significant that this money stimulates the development of other areas, it enables the country to realise strategic goals and provide for the needs of the society.”

Through the tax office, the state budget earned on JSW S.A. last year over PLN 986 million in VAT, i.e. PLN 249 million more than in 2010, and PLN 191.8 million in personal income tax. Moreover, in 2011 the Company transferred almost PLN 510.7 million in corporate income tax (PLN 219.2 million more than a year before) and PLN 168 million in tax payments on profit.

A portion of the funds paid under income taxes later makes its way to municipalities and counties through the employees of JSW. Last year, the budgets of various municipalities were also strengthened by PLN 87.8 million in real estate and transportation tax, nearly PLN 3 million for perpetual usufruct of land, PLN 5.8 million in tax on civil law transactions and almost PLN 15.2 million in mining royalty.

The remaining portion of the mining royalty, PLN 10.1 million, was transferred by the Company to the National Fund for Environmental Protection. Another significant cost driver in 2011 were the payments to the National Disabled Persons Rehabilitation Fund which amounted to PLN 21.3 million. An additional PLN 791 million was paid in contributions to the Social Insurance Institution (ZUS), and PLN 0.8 million in environmental fees.