Draft Tax Code does not provide for business development, fails to encourage private entrepreneurs to change status for legal entities
<p> MINSK, Oct 28 - PrimePress. The current draft Tax Code does not provide for business development and does not stimulate individual entrepreneurs to change their status for that of legal entities. This opinion was expressed by Chairman of the Republican Union of Industrialists and Entrepreneurs, Alexander Shvets, at the round table “The New Draft Tax Code: What Changes Should Belarusians Expect”. </p> <p> </p> <p> Although the reform of the taxation regimes in Belarus is objectively overdue, the negative reaction of private businesses to the expected innovations is natural, he believes. </p> <p> </p> <p> “Against the backdrop of lagging GDP growth, a clear focus of budget spending (through various kinds of programmes) on supporting the public sector and a lack of such support for private business, the government declares the need to increase budget revenues at the expense of small and medium-sized businesses. At the same time, the efficiency of private companies is many times higher than that of most state-owned ones,” Shvets said. </p> <p> </p> <p> The investment interest of proven, efficient private companies is not stimulated in any way, said Shvets. </p> <p> </p> <p> In his words, for the Tax Code to perform its stimulating function, the problem of mistrust between business and the state should also be addressed through adequate law enforcement. End </p> <p> </p>
2021-10-29
Primepress
Draft Tax Code does not provide for business development, fails to encourage private entrepreneurs to change status for legal entities
MINSK, Oct 28 - PrimePress. The current draft Tax Code does not provide for business development and does not stimulate individual entrepreneurs to change their status for that of legal entities. This opinion was expressed by Chairman of the Republican Union of Industrialists and Entrepreneurs, Alexander Shvets, at the round table “The New Draft Tax Code: What Changes Should Belarusians Expect”.
Although the reform of the taxation regimes in Belarus is objectively overdue, the negative reaction of private businesses to the expected innovations is natural, he believes.
“Against the backdrop of lagging GDP growth, a clear focus of budget spending (through various kinds of programmes) on supporting the public sector and a lack of such support for private business, the government declares the need to increase budget revenues at the expense of small and medium-sized businesses. At the same time, the efficiency of private companies is many times higher than that of most state-owned ones,” Shvets said.
The investment interest of proven, efficient private companies is not stimulated in any way, said Shvets.
In his words, for the Tax Code to perform its stimulating function, the problem of mistrust between business and the state should also be addressed through adequate law enforcement. End