COVID-19 alleviation: 1,266 entities get aid thanks to community support bill
<p> MINSK, Jul 17 - PrimePress. As many as 1,266 Belarusian economic entities received tax benefits and preferences in the amount of Br22.9 million ($9.544 million at the rate of National Bank of Belarus) under presidential ordinance № 143 “On economic support”. The Economy Ministry of Belarus released these figures in a report following the working meeting of Deputy Economy Minister Yelena Perminova with representatives of business associations on July 16. </p> <p> </p> <p> As of July 16, 2020, a total of 3,467 business entities applied to regional executive committees and Minsk City Executive Committee for tax benefits and preferences. 1,266 thousand businesses, 73.1% of which are privately-owned entities, were granted tax exemptions and preferences. </p> <p> </p> <p> As previously reported, Belarus has created a three-level system of pandemic alleviation economic support based on the provisions of ordinance #143. The first level is aimed at reducing costs for companies and self-employed businessmen by reducing the tax burden, as well as land and property rents and debt for energy resources. It also provides opportunities to adjust depreciation policies, recalculate exchange rate differences and attribute them to future periods. The second level is support for employers to pay salaries and social assistance to citizens. The third level - target support to companies affected by the pandemic. </p> <p> </p> <p> As previously reported, President Lukashenko signed into action ordinance #143 of Apr 24, 2020 “On Supporting The Economy,” which defines measures to ensure sustainable operation of the country’s economy and social sphere in conditions of coronavirus infection development. The ordinance provides for the implementation of measures to support economic entities in certain sectors of the economy that are most vulnerable to the adverse impact of the current epidemiological situation. The list of such industries is defined in the annex to the ordinance. End </p>
2020-07-18
Primepress
MINSK, Jul 17 - PrimePress. As many as 1,266 Belarusian economic entities received tax benefits and preferences in the amount of Br22.9 million ($9.544 million at the rate of National Bank of Belarus) under presidential ordinance № 143 “On economic support”. The Economy Ministry of Belarus released these figures in a report following the working meeting of Deputy Economy Minister Yelena Perminova with representatives of business associations on July 16.
As of July 16, 2020, a total of 3,467 business entities applied to regional executive committees and Minsk City Executive Committee for tax benefits and preferences. 1,266 thousand businesses, 73.1% of which are privately-owned entities, were granted tax exemptions and preferences.
As previously reported, Belarus has created a three-level system of pandemic alleviation economic support based on the provisions of ordinance #143. The first level is aimed at reducing costs for companies and self-employed businessmen by reducing the tax burden, as well as land and property rents and debt for energy resources. It also provides opportunities to adjust depreciation policies, recalculate exchange rate differences and attribute them to future periods. The second level is support for employers to pay salaries and social assistance to citizens. The third level - target support to companies affected by the pandemic.
As previously reported, President Lukashenko signed into action ordinance #143 of Apr 24, 2020 “On Supporting The Economy,” which defines measures to ensure sustainable operation of the country’s economy and social sphere in conditions of coronavirus infection development. The ordinance provides for the implementation of measures to support economic entities in certain sectors of the economy that are most vulnerable to the adverse impact of the current epidemiological situation. The list of such industries is defined in the annex to the ordinance. End