Ukraine Agrees to Scrap Tax Breaks to Access IMF Loan Package

Ukrainian authorities agreed to scrap several tax exemptions in order to secure fresh funding from the International Monetary Fund, though the new loan package hinges on the war-battered nation’s allies agreeing to tap frozen Russian assets.

The IMF announced a staff-level agreement for a four-year program worth around $8 billion on Wednesday, sending positive signals to Ukraine’s allies. The Washington-based lender’s board will approve the program once Kyiv implements a range of spending measures.

Ukraine agreed to accelerate efforts to prevent tax evasion and avoidance, as well as broaden its tax base. The so-called prior actions required of Kyiv ...