Ukraine approves 'historic' war tax hike to help cover defense spending
Briefly

The Ukrainian parliament's approval of a significant war tax increase from 1.5% to 5% aims to strengthen financial support for the country amid ongoing conflict with Russia. This measure reflects a determined effort to enhance military funding while underlining the urgent need for resources in response to military threats.
Yuriy Dzhygyr, Ukraine's deputy defense minister, stated, 'Financing the needs of the Defence Forces is now a top priority. Additional funds for weapons, fortifications and salaries for servicemen are critical in countering the military aggression of the Russian Federation against Ukraine.'
Yaroslav Zhelezniak, a Ukrainian lawmaker, emphasized the significance of the tax increase, referring to it as 'historic.' This highlights the parliament's commitment to addressing the financial demands of the ongoing war.
On the same day, the EU announced a substantial loan agreement of up to 35 billion euros, which aligns with Ukraine's efforts to bolster its financial strategy during wartime. This financial backing, partially secured by frozen Russian assets, shows international support for the Ukrainian cause.
Read at Business Insider
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