Ukraine Moves Toward First Tax Hikes Since Russian Invasion

Ukraine’s government seeks to increase levies on products ranging from fuel and tobacco to the sale of new vehicles to shore up its ailing budget in what is set to be the country’s first tax hike since Russia’s full-scale invasion over two years ago.

The country’s Cabinet of Ministers has submitted two draft bills to parliament proposing changes to this year’s budget and amendments to the tax code, aiming to raise around 500 billion hryvnia ($12.5 billion) in additional revenue for urgent military expenditures. The move comes amid a huge labor deficit and ongoing mobilization.

“The government suggests ...