Yesterday, the Verkhovna Rada passed Bill No. 11416-d on tax increases in its entirety.** The ‘historic’ tax hike was supported by 247 deputies, with 40 voting against, 11 abstaining, and 26 not voting. The bill now awaits the president’s signature to become law. The government argues that the additional funds are necessary to address the shortfall in military financing. According to their estimates, the proposed tax changes are expected to bring an additional UAH 58 billion to the budget this year and UAH 137 billion next year.
