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During the year of work under martial law, Progressech-Ukraine increased tax payments by 1.5 times

During the year of work under martial law, Progressech-Ukraine increased tax payments by 1.5 times

April 5, 2023

In 2022, the company Progressech-Ukraine, which is an exporter of engineering and IT services, increased the payment of taxes, fees and regular contributions by one and a half times - up to 500 million hryvnias.


Against the background of large-scale losses of Ukrainian business due to the armed aggression of the Russian Federation, Progressech-Ukraine strengthened its position in the status of the largest provider of services for the global market of aerospace technologies in Eastern Europe. The company increased the export of services and increased labor productivity and staff wages.


Accordingly, mandatory payments to the budgets of all levels and state trust funds have increased. In particular, the annual amount of taxes withheld from the incomes of Progresstech-Ukraine employees doubled compared to the pre-war year 2021.


In order to resume effective work , the company radically reformed business processes twice in 2022 and introduced new action algorithms adapted to wartime conditions. So now Progresstech-Ukraine is able to ensure uninterrupted functioning in a remote, offline or hybrid format, regardless of the current power supply regime in the regions where the company's offices are located.


The financial results of the company proved the prospects of the export model chosen by the government of Ukraine to restore the economy, which was reduced by a third as a result of the Russian invasion.


The model envisages optimizing the structure of Ukrainian exports with a focus, in particular, on the supply of finished goods and services with high added value. These export categories are believed to be less susceptible to logistical crises during the heat of war. In addition, in the future, they are able to provide more foreign exchange earnings than raw materials, which have dominated the total volume of Ukrainian exports for a long time.

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