21.06.2012
Belarus’ tax burden down 5% over five years
MINSK, 21 June (BelTA) – Over the past five years Belarus eased its tax burden by more than 5%, Finance Minister Andrei Kharkovets told reporters in the House of Representatives on 21 June.
“Over the last five years of reforms in the taxation system we have managed to reduce tax burden by over 5%,” Andrei Kharkovets said. He noted that last year the recourse centralization level made up 30.2% to GDP without regard to the Social Security Fund.
Scheduled reforms in the taxation system took place in 2011. They reduced the amount of taxes and duties to an optimal level, simplified the order of levying main taxes, expanded investment preferences, improved tax administration. The taxation system in terms of payments, rates and the order of payment is compliant with those applied in the developed countries, Andrei Kharkovets stressed.
Belarus introduced a fixed-payment mechanism for taxes on profit. For many companies this mechanism made a so-called protective shield during the crisis.
Andrei Kharkovets also took note of the level of the budget revenues from excises in 2011. They made up 10.3% of the total volume of the budget and reached Br5.6 trillion. Fuel duties make up the bulk of the excises. Last year they totaled Br2.9 trillion, 98.1% of the plan.
“Over the last five years of reforms in the taxation system we have managed to reduce tax burden by over 5%,” Andrei Kharkovets said. He noted that last year the recourse centralization level made up 30.2% to GDP without regard to the Social Security Fund.
Scheduled reforms in the taxation system took place in 2011. They reduced the amount of taxes and duties to an optimal level, simplified the order of levying main taxes, expanded investment preferences, improved tax administration. The taxation system in terms of payments, rates and the order of payment is compliant with those applied in the developed countries, Andrei Kharkovets stressed.
Belarus introduced a fixed-payment mechanism for taxes on profit. For many companies this mechanism made a so-called protective shield during the crisis.
Andrei Kharkovets also took note of the level of the budget revenues from excises in 2011. They made up 10.3% of the total volume of the budget and reached Br5.6 trillion. Fuel duties make up the bulk of the excises. Last year they totaled Br2.9 trillion, 98.1% of the plan.