2024-07-31 08:16:48
Ukrainian Finance Minister Serhiy Marchenko said today that the country’s war with Russia is costing Kyiv more than $135 million a day, DPA reported.
In an interview with RBC-Ukraine, Marchenko said that monthly security and defense spending had increased to 166 billion hryvnias ($4.04 billion).
The Ukrainian government is currently planning a major tax reform to cover a budget deficit of around $12.2 billion. Among the proposed changes is an increase in the military tax from 1.5 percent to 5 percent. Such an increase was initially proposed in 2014 following Russia’s annexation of Crimea. This type of tax is charged separately from the basic income tax.
In addition, the purchase of cars and jewelry is subject to a military tax of between 15 percent and 30 percent, writes BTA. According to media reports, sales of new cars in major Ukrainian cities increased sharply after these plans were announced.
Ukraine has been repelling the Russian invasion for over two years now. About half of the state budget is currently financed by foreign loans and aid.