Ivan Shunko: Preparing tax changes we took into account foreign countries’ practices

Giving a press conference Ivan Shunko, Deputy Belarusian Minister of Finance, said that in the course of tax changes preparation Belarusian authorities took into account the experience of many foreign countries including Russia. We would remind you that a whole package of amendments to the Tax Code is coming into effect starting from the New Year. Taking into consideration qualitative changes made with these amendments First Deputy Minister of Taxes and Duties of Belarus Vladimir Poluyan compared them with a full-fledged reform.

Giving a press conference Ivan Shunko, Deputy Belarusian Minister of Finance, said that in the course of tax changes preparation Belarusian authorities took into account the experience of many foreign countries including Russia. We would remind you that a whole package of amendments to the Tax Code is coming into effect starting from the New Year. Taking into consideration qualitative changes made with these amendments First Deputy Minister of Taxes and Duties of Belarus Vladimir Poluyan compared them with a full-fledged reform.

Commenting upon the amendments adopted Ivan Shunko noted that the work on improvement of the tax system and further tax load reduction will be continued. Among possible actions the authorities consider complete repeal of turnover taxes, streamlining of computation of local taxes as well as simplification of resource payment calculation. It is also planned to complete the work on the Special Part of the Tax Code.

The Deputy Minister of Finance also reminded that in 2009 tax load will be reduced by 1.3 % with respect to GDP. It will become possible thanks to the cancellation of a number of tax payments. As a result, about Br 3 trillion will stay at taxpayers’ disposal. These funds are to become an additional means of competitive recovery of Belarusian goods on foreign markets as well as a source of turnover means for enterprises and investments.

In 2009 tax load reduction is planned to be achieved by decreasing the rate of charges to the national fund for support of agricultural producers, food manufacturers and agrarian science from 2% to 1% of proceeds as well as by excluding from real-estate taxation objects an active part of basic production assets (processing lines, production facilities), reducing tax rates of purchasing vehicles and rates of other payments.