Business news

MINSK, 15 September (BelTA) – There will be more opportunities to do a business without registration as a self-employed entrepreneur in Belarus. President Alexander Lukashenko supported a corresponding draft decree “On regulation of activities of physical persons” which was discussed at the working meeting with Taxes and Duties Minister Sergei Nalivaiko on 15 September, BelTA has learned.

The draft decree envisages the expansion of the list of economic activities which a person can do without registration as a self-employed entrepreneur provided a single tax is paid. The document is included in a package of legal acts aimed at promoting entrepreneurship and stimulating business activities.

Sergei Nalivaiko said after the report that the head of state supported the innovations. In accordance with the current Tax Code, physical persons can engage in 18 business activities on a declarative principle.

“Two conditions must be fulfilled: submission of an application, registration in tax bodies and payment of taxes. These business activities include trade (up to five days per month), provision of simple services, for example, help to farmers. There are minimal rates which are determined and approved by oblast councils or the Minsk City Council,” the minister said. “There are 18 kinds of such activities. The draft decree will introduce 12 kinds of activities to that list. I believe this is a good step towards eliminating shadow business.”

Sergei Nalivaiko did not exclude that he list of such business activities many be expanded further in the future. “It is quite possible that this list will be expanded. Obviously, this is not a closed list,” he said.

The decree will create additional conditions for promoting self-employment and involvement of people in economic activities.