Zelensky gave tax benefits to arms manufacturers

Ukrainian President Volodymyr Zelensky has signed the so-called “Defence City” law, which introduces benefits for enterprises in the country’s defense industry.

This information reported according to media reports.

Under the new legislation, Ukraine’s Ministry of Defense will create a special register under this name that will include arms manufacturers. These companies will be exempt from profit tax, land tax, property tax, and environmental tax. They will also be granted simplified customs procedures for military-related goods.

These and other benefits will remain in force until 2036 or until Ukraine joins the European Union, the report states.

Earlier in September, Zelensky noted that due to a lack of funding, 40% of Ukraine’s defense industry capacities were standing idle. At the same time, he announced plans to export domestically produced weapons, particularly naval drones.