Business news

MINSK, 25 October (BelTA) – Belarus President Alexander Lukashenko has uphold the proposal to rescind Decree No.488 “Concerning measures to prevent illegal minimization of tax obligations”, First Deputy Prime Minister of Belarus, Chairman of the Business Promotion Council Alexander Turchin has told the Belarus 1 TV channel, BelTA has learned.

“We suggested considering a possibility to abolish Decree No. 488 and simultaneously incorporate regulations against pseudo-entrepreneurship into other legal acts. The president upheld this initiative and gave an instruction to submit proposals regarding what regulations into what laws, decrees, and ordinances can be incorporated and to discuss this matter with the State Control Committee,” Alexander Turchin said.

In his words, the business community has nothing against developing a so-called register of pseudo-entrepreneurship organizations. “Another thing is determining the criteria for including companies into such a register. It would be somewhat wrong to immediately put on the register companies that do not operate in the place of their registration,” Alexander Turchin noted.

Speaking about the new version of the Tax Code that is currently in the works, Alexander Turchin noted that it cannot be called ‘an impeccable document’, but it contains a number of good ideas. He expects the taxation system to be dramatically streamlined in the future and tax burden on business to be eased. It is also necessary to come to grips with contributions to the Social Security Fund.