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Thursday, August 24, 2017

Updated tax code will increase predictability for Belarusian businesses

Belarus' First Deputy Prime Minister, Vasily Matyushevsky, announced Monday the tax code has been updated to prevent changes over the course of the year.

The government has promised it will not make any changes to the tax law, providing an added measure of security and predictability for businesses. The chairman of the Belarusian Union of Entrepreneurs, Alexander Kalinin, noted this policy change is the result of a joint effort between government officials and business leaders to improve the fiscal system.

"Our actions should be predictable and clear," Matyushevsky said. "At the moment, this is probably the main thing for Belarusian businessmen.” 

The deputy minister also said the government is hoping that no additional amendments will be proposed or passed in 2015. Kalinin praised this step as progress, commending officials for listening to business leaders' requests for a more predictable tax code. He said continued dialogue between the public and private sector would prove beneficial, especially as new regulations take effect.

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