Ukraine’s Finance Minister Serhiy Marchenko said today that his country’s war against Russian aggression is costing Kiev more than $135 million a day. In an interview with the RBC-Ukraine news website, Marchenko stressed that monthly spending on security and defense has risen 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. The proposed changes include an increase in Defense levies – first introduced in 2014 after Russia annexed Crimea – from 1.5% to 5%. Contributions are different from income tax. In addition, purchases of cars and jewelry are subject to Defense levies of 15% and 30% respectively. According to media reports, sales of new cars in major Ukrainian cities soared after the plans were announced. The Ukraine […]
Source: News Beast
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