No radical changes in Belarusian tax laws for 2017

MINSK (BelTA) – No radical changes are supposed to be introduced into Belarusian tax laws for 2017. Belarusian Tax and Duties Minister Sergei Nalivaiko made the statement before the roundtable session to be held in the Prosecutor General's Office on 9 August to discuss the fulfillment of taxation laws, BelTA has learned.

Sergei Nalivaiko remarked that Belarusian tax laws are adjusted every year. “Next year's amendments to the Tax Code are being finalized now. The work proceeds well. The final touches are being added in August so that the parliament could adopt the Tax Code in advance and economic operators could study the novelties we've introduced in order to smoothly start working in 2017. We are in favor of avoiding any radical changes. The introduction of digital commercial invoices as of 1 July is the main novelty of this year,” said the Tax and Duties Ministry.

The official remarked that the Tax and Duties Ministry closely cooperates with business unions and the private business community in matters concerning the improvement of the tax policy. Cooperation with the Prosecutor General's Office has been established as well.

Sergei Nalivaiko reminded that the Tax and Duties Ministry had suggested freezing rules of the game with regard to tax regulations for 3-4 years. In the end the government decided not to change the rules within one fiscal year. “I am convinced it is only the first step. We should try to secure longer periods of stability with regard to legislation changes. The Tax and Duties Ministry, the Prosecutor General's Office, and the private sector are all in favor of it,” he said.

Sergei Nalivaiko made it clear that the Tax and Duties Ministry is strongly in favor of stability in taxation and is against raising any kinds of tax rates.