In response to Russia’s ongoing assault on Ukraine’s critical infrastructure, Prime Minister Denys Shmyhal announced that the government will allow authorities in the city of Kharkiv to exempt businesses from local taxes. Kharkiv has been a target of intensified missile and drone strikes, resulting in the destruction of a significant portion of the city’s energy infrastructure. In light of this aggression, tax exemptions will be granted to businesses in Kharkiv, with the state budget being used to compensate for lost revenue. The decision to implement tax exemptions is not limited to Kharkiv but extends to all territories affected by the conflict, with over $1 billion allocated to stimulate economic recovery in the energy sector.
The attacks on Kharkiv have been part of a larger-scale assault by Russia that began on March 22, leading to the destruction of the Zmiiv thermal power plant, one of the largest in Kharkiv Oblast. The city has faced near-daily assaults, prompting the government to take measures to support businesses and industries that have been impacted by the ongoing conflict. Support for independent journalism in Ukraine is crucial in providing accurate and timely information about the situation on the ground, enabling people to stay informed and engaged with developments in the country. The Kyiv Independent is a source of news, analyses, investigations, opinions, and podcasts that offer insights into the current situation in Ukraine and Eastern Europe.
The decision to grant tax exemptions to businesses in Kharkiv reflects the government’s commitment to supporting the local economy and ensuring the smooth operations of businesses amidst the ongoing conflict. By alleviating the tax burden on businesses, the government aims to mitigate the economic impact of the aggression and enable businesses to continue their operations despite the challenges they face. Kharkiv Mayor Ihor Terekhov emphasized the severity of the attacks on the city’s energy infrastructure, highlighting the urgent need for measures to support businesses during this critical time.
The allocation of over $1 billion to stimulate economic recovery in the energy sector demonstrates the government’s dedication to revitalizing the critical infrastructure that has been targeted by Russia’s attacks. This funding will play a crucial role in supporting the reconstruction and restoration of essential energy facilities in Kharkiv and other affected territories, helping to ensure the long-term resilience and sustainability of the energy sector in Ukraine. The government’s swift action in implementing tax exemptions and providing financial support underscores its commitment to protecting businesses and industries that have been impacted by the conflict.
As the conflict in Ukraine continues, the role of independent journalism in providing accurate and unbiased information becomes increasingly important. The Kyiv Independent serves as a vital source of news and insights into the situation in Ukraine and Eastern Europe, offering on-the-ground reporting, analyses, investigations, and opinions to keep the public informed. By supporting independent journalism in Ukraine, individuals can contribute to the dissemination of reliable information and help raise awareness about the ongoing conflict. Joining the fight to support independent journalism is essential in promoting transparency, accountability, and democracy in Ukraine during this challenging time.
