Russia raises taxes as $59.7B deficit grows
Russians face a VAT increase while Putin dismisses the 5 trillion ruble budget hole, breaking the promise of no tax rises until 2030.
Browsing Tag
tax raise
4 posts
Ukraine triples military tax, but still faces $ 12 billion defense gap in 2024
Starting in December, citizens face a military levy increase from 1.5% to 5% as Kyiv scrambles to close a sizable shortfall in immediate defense needs, with the new tax revenue going primarily to weapons production and military salaries.
Kyiv runs into strong opposition on tax hike to fund war – Politico
Ukraine's proposal to raise taxes for war funding faces strong opposition from domestic and international businesses, reports Politico.
US urges Ukraine to tackle ‘gray markets’ to boost state revenue before raising taxes
The US Special Representative for Ukraine's Economic Recovery advised Ukraine to target unofficial markets in tobacco, alcohol, and electronics, potentially unlocking substantial untapped revenues before considering tax hikes.