The 2025 state budget faces a multi-billion-dollar shortfall, despite foreign aid Ukraine’s parliament has approved the country’s first major tax increase since the outbreak of the conflict with Russia in 2022, as the budget deficit continues to grow. The draft law, which has drawn sharp criticism from the opposition and the public, was passed by the lower house on Thursday. It proposes an increase in the war tax paid by residents from 1.5% to 5%, a 50% tax rate on bank profits, and a 25% tax on financial companies, among other measures. Read more Ukrain
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