There are no plans to raise taxes in Ukraine at the moment, but a VAT return on imports and the elimination of import levies is being discussed.

According to report, Minister of Finance Serhiy Marchenko mentioned this on the national telethon.

“We do not foresee an increase in taxes, nor do we foresee stringent payment requirements. In order to be able to balance the budget, we seek to restore a properly working tax and customs system “Marchenko remarked.

The first stage, according to the minister, is the VTA reimbursement on imports and import tariffs. Marchenko feels that this will assist in the backing of Ukrainian companies.

At the same time, the finance minister stated that in the event of a long war, it will be necessary to revert to the tax structure in place until February 24.

He went on to say, “This was a forced decision.”

Marchenko emphasised that the state has no other way of funding the army than to collect taxes. Ukraine can’t keep borrowing money to keep its army afloat.