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Belarus' taxation bill passes second reading

MINSK ( BelTA) – The bill on amending laws (taxation issues) has passed the second reading in the House of Representatives of the National Assembly of Belarus on 21 December, BelTA has learned.

The bill was submitted to the House of Representatives by the president and passed its first reading on 14 December 2021. It provides for systemic measures to improve the tax legislation taking into account the results of its practical application, to achieve an optimal level of tax burden on the economy, further simplification of the calculation and payment of specific taxes.

“The document novelties will affect the interests of broad layers of society and are aimed to stimulate various types of economic activity and at the same time to equalize the tax burden on various categories of taxpayers, increasing the degree of their participation in financing the state social tasks,” said Deputy Chairman of the Standing Committee on Budget and Finance of the House of Representatives Piotr Vabishchevich.

In his words, the bill was submitted to the standing committees of the House of Representatives and the main legal department of the Secretariat. It was discussed at the extended meetings of the Standing Committee on Budget and Finance on 9, 15 and 16 December, and also at the meeting with the prime minister and members of the government.

In finalizing the bill for the second reading, the Standing Committee took into account the proposals from MPs, in particular those related to improving the procedure for determining the tax base based on the results of the audit, the ways of ensuring that taxpayers fulfill their tax obligations, the terms of crediting overpaid tax amounts identified during the audit, and also legal, editorial and technical comments.