Ukraine imposes first wartime tax hikes to fight Russian invasion

Ukrainian President Volodymyr Zelenskiy attends a press conference with Denmark's Prime Minister Mette Frederiksen (not pictured), on the 1000th day of Russia's full-scale attack on Ukraine, at the presidential palace in Kyiv, Ukraine, November 19, 2024. Mads Claus Rasmussen/Ritzau Scanpix/via REUTERS/File photo

KYIV (Reuters) - President Volodymyr Zelenskiy signed into law on Thursday Ukraine's first wartime tax increases as the war against Russia reaches its 34th month.

Finance Minister Serhiy Marchenkko said that the bill was vital to ensure smooth funding for the Ukrainian defence sector next year. The changes will take effect from Dec. 1, he said.