MINSK, 18 December (BelTA) – Belarus president decree No.488 “On some measures to prevent the illegal minimization of payable tax sums” will be invalidated as from 1 January 2019. Belarusian Deputy Finance Minister Dmitry Kiyko made the statement as he presented the new revision of the Tax Code in the House of Representatives of the National Assembly, BelTA has learned.
According to the source, a report on several topical aspects of economic development was delivered to the head of state. The government was instructed to consider implementing some provisions of the decree in other laws and regulations. This is why the decree will be scrapped as from 1 January 2019 while provisions meant to suppress pseudo-entrepreneurship will be incorporated into the Tax Code.
In particular, commercial entities will be granted the right to check the information released by the tax service about companies on the digital services web portal. Belarusian companies will be able to check the business reputation of their partners on their own. The state will no longer be the only party responsible for detecting commercial entities showing pseudo-entrepreneurship signs.
The lower chamber of the Belarusian parliament gave the first reading to the renewed Tax Code on 18 December.
