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Positive effect of new tax laws on business climate in Belarus noted

Economy 13.09.2019 | 15:45

MOGILEV, 13 September (BelTA) – The new revision of the Tax Code, which was passed in December 2018, has had a positive effect on Belarus' business climate. The opinion was voiced by Zhanna Tarasevich, Director of the Professor M.S. Kunyavsky Business Union of Entrepreneurs and Employers, during an expanded session of the presidium of the scientific advisory board for social and economic development under the Presidium of the Council of the Republic of the National Assembly of Belarus in Mogilev on 13 September, BelTA has learned.

During the session representatives of the private sector, the Tax and Duties Ministry, parliamentarians, and scientists discussed how the renewed Tax Code is applied in practice. Zhanna Tarasevich said: “If we talk about the new revision of the Tax Code, it has had an effect. The private sector appreciates the work that's been done to reduce tax administration.” It is now simpler to calculate profit tax. Important amendments have been made to the legislation on land tax and real estate tax. On the whole, the taxation system has been simplified, particularly the part that concerns self-employed businessmen.

At the same time the fiscal policy is in need of further improvement. It is necessary to faster switch to stimulating measures, Zhanna Tarasevich believes. “But it doesn't mean that some taxes should be scrapped. It is necessary to revise or inventory the taxes, non-tax payments that make up the tax burden, and think about further steps then,” she noted. As an example Zhanna Tarasevich mentioned mandatory social security payments. She said she believes it is necessary to redistribute the burden between the employer and the employee. The private sector is also concerned about matters of the marking of goods, certain peculiarities of insurance payment deductions, and some other things.

Mikhail Myasnikovich
Mikhail Myasnikovich

Chairman of the Council of the Republic of the National Assembly of Belarus Mikhail Myasnikovich noted that members of the parliament are monitoring the implementation of the Tax Code in practice. “Feedback is important to us. We'd like to learn whether the taxation system has been simplified, how much the base of bylaws has been formed, and so on,” the speaker explained. One of the key goals of the new Tax Code was to reduce the number of references to other laws by introducing direct regulations. The approach was supposed to make easier the work of economic branches of organizations and enterprises. “According to the available data there are no major concerns. Everyone says that taxation improved somewhat once the new norms and terms of the Tax Code were passed,” he noted.

The purpose of the meeting in Mogilev was to give an opportunity to speak about these matters to heads of enterprises, MPs, scientists, and representatives of government agencies. Mikhail Myasnikovich said: “We would like to discuss the state of affairs. If necessary, we would like to decide on work to amend and expand the effective legislation. The Council of the Republic does not doubt the decisions made within the framework of the Tax Code. But improving the tax laws is a continuous process. There is no doubt we cannot get it absolutely right without hearing the opinions of those we do it for.”

Sergei Nalivaiko
Sergei Nalivaiko

In turn, Belarusian Tax and Duties Minister Sergei Nalivaiko mentioned the ministry would like to have several aspects of the Tax Code polished. “We would like to hear out the private sector, to learn what they are concerned about most. It is more of technical work that does not influence the fundamental principles of the document. We would like a uniform interpretation of these bottlenecks,” the minister summed up.

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