O country war The anti-Russian invasion is costing Kiev more than $135 million a day, Ukraine’s finance minister said today Serhi Marchenko.
In an interview with the RBC-Ukraine news website, Marchenko emphasized that monthly spending on security and defense increased to 166 billion hryvnias (US$4.04 billion).
A major tax reform is underway
The Ukrainian government is currently planning a major tax reform to cover a fiscal deficit of approximately 12.2 billion dollars.
The proposed changes include an increase in defence levies – first introduced in 2014 following Russia’s annexation of Crimea – from 1.5% to 5%. The contributions are separate from income tax.
Furthermore, Car and jewelry purchases are subject to Defense taxes of 15% and 30%, respectively.
According to media reports, sales of new cars in major Ukrainian cities soared after the plans were announced.
Ukraine has been fighting a full-scale Russian invasion for more than two years.
About half of the state budget is currently financed by loans and foreign aid.
AMP Source