Belarus’ budget to receive Br379m in export duties on oil products, Br1.6bn in duties on potash fertilizers in 2021
<p> MINSK, Dec 23, - PrimePress. It is expected that Belarus’ 2021 budget will receive Br379 million ($147.7 million at the rate of National Bank of Belarus) in export duties on oil products and Br1.6 billion ($ 623.6 million) in export customs duties on potash fertilizers, according to the guidelines for fiscal and tax policy of Belarus for 2021-2023 posted on the website of the Finance Ministry of Belarus. </p> <p> </p> <p> The motor vehicle tax, which will replace the road traffic fee, will bring Br95.1 million ($37.1 million). Minsk city is to transfer Br778 million ($303.2 million) to the republican budget. </p> <p> </p> <p> The 2021 consolidated budget revenues are projected at Br39.7 billion ($15.5 billion), up 6.5% against the estimated revenues in 2020. Revenues of the republican budget for 2021 will amount to Br23.3 billion ($9.1 billion). </p> <p> </p> <p> “The revenues include income tax receipts under the target economic development scenario. In order to minimize risks, the revenues in excess of those in 2020 will be accumulated in a presidential reserve (around Br400 million, or $155.9 million) to further raise salaries in the public sector. “Similar approaches are proposed for local budgets,” reads the document. </p> <p> </p> <p> According to the Finance Ministry, the minimum amount required for financing the republican budget expenditures in 2021 is estimated at Br27.3 billion ($10.6 billion). </p> <p> </p> <p> As previously reported, the House of Representatives of the National Assembly of Belarus approved on December 18 the draft budget for 2021 with a deficit of Br4.047 billion ($1.6 billion at the rate of National Bank of Belarus). In 2020, the budget deficit is expected at Br2.6 billion ($1 billion). The budget deficit in 2021 will likely increase by 56% year on year. End (Br2.5658/$1) </p> <p> </p>
2020-12-24
Primepress
MINSK, Dec 23, - PrimePress. It is expected that Belarus’ 2021 budget will receive Br379 million ($147.7 million at the rate of National Bank of Belarus) in export duties on oil products and Br1.6 billion ($ 623.6 million) in export customs duties on potash fertilizers, according to the guidelines for fiscal and tax policy of Belarus for 2021-2023 posted on the website of the Finance Ministry of Belarus.
The motor vehicle tax, which will replace the road traffic fee, will bring Br95.1 million ($37.1 million). Minsk city is to transfer Br778 million ($303.2 million) to the republican budget.
The 2021 consolidated budget revenues are projected at Br39.7 billion ($15.5 billion), up 6.5% against the estimated revenues in 2020. Revenues of the republican budget for 2021 will amount to Br23.3 billion ($9.1 billion).
“The revenues include income tax receipts under the target economic development scenario. In order to minimize risks, the revenues in excess of those in 2020 will be accumulated in a presidential reserve (around Br400 million, or $155.9 million) to further raise salaries in the public sector. “Similar approaches are proposed for local budgets,” reads the document.
According to the Finance Ministry, the minimum amount required for financing the republican budget expenditures in 2021 is estimated at Br27.3 billion ($10.6 billion).
As previously reported, the House of Representatives of the National Assembly of Belarus approved on December 18 the draft budget for 2021 with a deficit of Br4.047 billion ($1.6 billion at the rate of National Bank of Belarus). In 2020, the budget deficit is expected at Br2.6 billion ($1 billion). The budget deficit in 2021 will likely increase by 56% year on year. End (Br2.5658/$1)