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20.12.2012

Belarus to reduce taxes to 27.6% of GDP in 2013

MINSK, 20 December (BelTA) – Tax burden in Belarus will reduced to 27.6% of GDP next year, without taking into account contributions to the social security fund, Deputy Taxes and Duties Minister Ella Selitskaya told media on 20 December.

In her words, the state is taking measures to support small business and intensify entrepreneurial activity in the rural area. Thus, easing of tax load will benefit taxpayers who use the simplified tax regime. If the tax rate reduced by 1% on 1 January 2012, then it would go down by 2% on 1 January 2013. For companies using the simplified tax system, the tax rate will make up 5% and 3% if they pay VAT.

Apart from that, the criteria to use the simplified tax system will be revised in 2013. Thus, the gross revenue of a company using the system should not exceed Br8.2 billion (now Br3.4 billion), its personnel should not be higher than 50 workers (now 15). The aforesaid measures are believed to boost small business development in the country.