VR endorses draft bill on raising defense expenditures by UAH 500B in first reading
The relevant statement was made by Member of Parliament Yaroslav Zhelezniak (from the parliamentary faction ‘Holos’) on Telegram, an Ukrinform correspondent reports.
A total of 301 Members of Parliament voted in favor of such decision.
“The draft bill has been endorsed in the first reading only. Thus, it is remaining in the form as it was submitted by the Government. It provides for UAH 125 billion in additional tax revenues. But, prior to the second reading, it will be amended in accordance with the recommendations given by the Committee,” Zhelezniak wrote.
The deadlines for submitting amendments to the draft bill were halved.
A reminder that, in July 2024, the Verkhovna Rada of Ukraine registered government draft bill No. 11416 on amendments to the Tax Code, proposing to raise a number of tax payments and charges.
On September 2, 2024, the Verkhovna Rada Committee on Finance, Taxation and Customs Policy, in order to cover the increase in defense expenditures by UAH 500 billion by the end of 2024, proposed to raise internal borrowings (in addition to increased tax payments) and change the distribution principle of the military tax for three months of 2024. The Verkhovna Rada Committee on Budget supported this version of the draft bill.
