Ukrainians will have to pay a higher military tax in the future. The government in Kiev announced that the tax could increase from the current 1.5 to five percent of income. Other tax increases and loans are also planned.
In the future, a military tax will also be payable on the purchase of cars (15 percent) and on the sale of jewelry (30 percent). In this way, a total of 500 billion hryvnias (the equivalent of about 12.4 billion euros) will be raised for the Ukrainian Armed Forces. A corresponding law has already been approved by the Cabinet of Ministers. In order for the changes to come into effect, they must be adopted by parliament and signed by President Volodymyr Zelensky.
Forced recruitment comes at a cost
So far this year, the Ukrainian government has spent the equivalent of 42.2 billion euros on the country’s defense. This figure is now expected to increase by almost 30 percent, partly due to the forced recruitment of soldiers. “The needs in the security and defense sector are growing,” the Ministry of Finance said. The additional spending would “protect our security and bring victory closer.”
Expansion of arms production
In addition, the country’s own production of weapons, ammunition and armaments will be expanded. Zelensky has repeatedly stated that he wants to make Ukraine one of the largest arms producers in the world. For this, the country is dependent on foreign investors. Among other things, cooperation with Great Britain will be deepened. The government there recently transferred heavy weapons, tanks and long-range missiles to Ukraine.
Source: Krone
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