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Belarus May Abolish Criminal Prosecution For Tax Offences

Belarus is ready to abolish criminal prosecution for violations in the sphere of tax legislation, TUT.BY reports.

The change in tax legislation is a part of the government’s action plan for 2018-2020.

belarus taxes

Prime Minister Sergei Rumas

“Investments and private business projects are vital for the Belarusian economy,” Prime Minister Sergei Rumas said at a session of the House of Representatives.

The program is designed to increase the country’s resilience to external and internal challenges. It is characterized by equality of all forms of ownership and non-interference in healthy competition.

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Its main purpose is the improvement of the living standards of the Belarusian people. In particular, Rumas stated the need “to create conditions for a decent level of earnings of Belarusians.”

The program provides for:

  • the separation of the functions of the owner and the regulator in the state property management,
  • the decriminalization of economic risks,
  • the abolition of criminal prosecution for violations in tax legislation is elaborated,
  • the development of the service sector,
  • the large-scale digitalization,
  • sustainably low level of inflation,
  • improvement of investment policy,
  • reduction of regional differentiation.

“It is necessary to provide business with real financial support. We urgently need to increase the investment of private business, ” the prime minister stressed.

The draft new version of the Tax Code has been comprehensively reworked. It now focuses on simplification of administration and reducement of the tax burden.

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In the investment policy, Belarus intends to create the best conditions in the EAEU for attracting investments with the focus on high-performance commercial projects.

As to the regional policy, reducing interregional differentiation and concentrating resources in the centers of economic growth are the priority.

That implies, in particular, simplified conditions for the transfer of state property in exchange for workplaces and other measures.

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Rumas also stated the need to bring the minimum wage to an acceptable level – not lower than the minimum consumer budget.

It is also important to “simplify the structure and mechanism of formation of public sector wages”. The aim here is the same – public sector wages should be at least 80% of the national average.