Belarus business community opposed to hasty tax changes for entrepreneurs
<p> MINSK, Sep 23 – PrimePress. The business community of Belarus opposes the introduction of amendments to the tax legislation for entrepreneurs starting from 1 January 2022. A statement to this effect was adopted at a roundtable in Minsk on 23 September. </p> <p> </p> <p> Business unions note that the preparation of amendments to the Tax Code of Belarus relating to taxes for small and medium enterprises, as well as self-employed businessmen, is carried out behind the scenes by government agencies. Representatives of business unions have been receiving word-of-mouth information from public officials about the forthcoming changes. At the same time the administrative and tax burden is expected to increase. </p> <p> </p> <p> According to representatives of business unions, they are preparing, in particular, the following changes: individual entrepreneurs won't be able to apply the simplified taxation system, they will pay a 16% tax on the difference between incomes and verified expenses; it will be impossible to apply the simplified taxation system with VAT; the simplified taxation system will only apply to legal entities with the number of employees not exceeding 15 persons and the annual revenue - 1 million Belarusian rubles ($400,000 at the rate of the National Bank of Belarus). </p> <p> </p> <p> Business unions are preparing an appeal to the state authorities with a proposal to postpone the tax reform, as well as to take into account possible negative consequences for the state’s tax revenues and revise these initiatives towards liberalisation, or leave taxes for business as they are. End </p> <p> </p>
2021-09-24
Primepress
Belarus business community opposed to hasty tax changes for entrepreneurs
MINSK, Sep 23 – PrimePress. The business community of Belarus opposes the introduction of amendments to the tax legislation for entrepreneurs starting from 1 January 2022. A statement to this effect was adopted at a roundtable in Minsk on 23 September.
Business unions note that the preparation of amendments to the Tax Code of Belarus relating to taxes for small and medium enterprises, as well as self-employed businessmen, is carried out behind the scenes by government agencies. Representatives of business unions have been receiving word-of-mouth information from public officials about the forthcoming changes. At the same time the administrative and tax burden is expected to increase.
According to representatives of business unions, they are preparing, in particular, the following changes: individual entrepreneurs won't be able to apply the simplified taxation system, they will pay a 16% tax on the difference between incomes and verified expenses; it will be impossible to apply the simplified taxation system with VAT; the simplified taxation system will only apply to legal entities with the number of employees not exceeding 15 persons and the annual revenue - 1 million Belarusian rubles ($400,000 at the rate of the National Bank of Belarus).
Business unions are preparing an appeal to the state authorities with a proposal to postpone the tax reform, as well as to take into account possible negative consequences for the state’s tax revenues and revise these initiatives towards liberalisation, or leave taxes for business as they are. End