- Ukraine is proposing a 1 percentage point increase in VAT starting in 2027.
- The extra VAT revenue would help fund a business insurance program covering losses from military attacks, with estimated annual financing needs of about $1 billion or more.
- The tax hike is not final yet; it still requires parliamentary approval and further consultations with businesses and lawmakers.
- The government says it has no other identified funding source for the program and views the measure as support for businesses operating during the war.
Source: visitukraine.today
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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