Ukraine's Parliament has approved its largest tax increase since the invasion, raising personal income taxes to 5% to fund military efforts against Russia.
Yaroslav Zhelezniak termed the tax hike historic, emphasizing that although it's unpopular, it is essential for sustaining Ukraine's fight amid financial strain.
Oleksii Movchan, acknowledging the unpopularity of the tax rise, stated, 'We will be hated, but we don't have any other option, it's about our survival.'
The measures include doubling bank profit taxes to 50% and increasing other financial institutions' taxes, aiming to secure a $12 billion increase in military spending.
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