MINSK, 2 April (BelTA) – At a meeting of the second session of the House of Representatives of the National Assembly of Belarus of the eighth convocation, deputies adopted in two readings the bill “On amending the Law of the Republic of Belarus “On amending taxation laws””, BelTA has learned.
Presenting the bill, Economy Minister Yuri Chebotar recalled that in line with the current legislation an individual entrepreneur who exceeds the established income threshold (gross revenue) of Br500,000 can no longer go on as an individual entrepreneur and should change their status on 1 January the following year.
Yuri Chebotar remarked that the bill clarifies the rules for such individual entrepreneurs. “Firstly, the subject of the ban has been clearly defined – this is a citizen. Secondly, the time frame of this decision has been set,” the minister said.
He added that the bill provides for simplified transition of an individual entrepreneur into a legal entity.
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