Government approves increase in defense spending in Budget 2024 and tax changes for UAH 140 billion: what's expected
Kyiv • UNN
The Cabinet of Ministers approved a draft law to increase state budget expenditures for 2024 by UAH 500 billion, mainly for defense, as well as changes to tax increases, which are expected to raise UAH 140 billion, including changes in the taxation of postal parcels.
The Cabinet of Ministers has approved a bill to increase state budget expenditures for 2024 by UAH 500 billion, mainly for defense, as well as changes to raise taxes, which is expected to bring in UAH 140 billion, MP Yaroslav Zheleznyak, a member of the Tax Committee, said on Thursday, UNN reports.
The government has just approved a law on amendments to the Budget 2024 with a UAH 500 billion spending increase and UAH 140 billion in tax changes
"By the way, the government's draft law on tax increases will include changes to the taxation of postal parcels. This provision says that parcels will not be subject to VAT up to 45 euros (instead of 150 euros). And that's not all of them," the MP pointed out.
Addendum
Earlier, Zheleznyak reported that the amendments to the Budget-2024 envisage an increase of UAH 495.3 billion in defense spending: salaries and wages - UAH 77.9 billion, military, special equipment and machinery - UAH 256.1 billion, construction of military engineering and fortifications - UAH 40.4 billion, and other expenditures - UAH 120.7 billion. According to him, it is also planned to reduce expenditures by UAH 65 billion.
"To cover the additional expenses and ensure the balance of the budget indicators, it is planned to increase the general fund revenues: state budget by UAH 214.5 billion (including tax increases) + financing of the general budget fund for debt operations by UAH 220 billion," Zheleznyak said.
Zheleznyak also reported on the government's draft law on amendments to the Tax Code and other legislation to raise taxes by UAH 140 billion, which provides for an increase in the military tax rate.
