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Government may extend indefinitely tax breaks for sole entrepreneurs exporting Belarusian-made goods

The economy ministry has drawn up a presidential edict that would extend indefinitely tax concessions for sole entrepreneurs who export Belarusian-made goods. Under Alyaksandr Lukashenka's edict issued in September 2009, sole entrepreneurs are exempted from value-added tax, income tax, local taxes and tax under the simplified tax system on sales of Belarusian goods abroad. The edict is to expire on July 1.

According to the economy ministry, extending the tax breaks would help further boost the country's exports and reduce manufacturers' finished product inventories.

In an interview with BelaPAN, Katsyaryna Chyzhyk, vice chair of the Belarusian Union of Entrepreneurs, described the proposed measure as a "serious step." She acknowledged that exports of Belarusian-made goods by sole entrepreneurs were hampered by a lack of venues where such goods could be sold abroad. Apart from this, sole entrepreneurs often have difficulty buying domestic goods from manufacturers.

Ms. Chyzhyk suggested extending the tax breaks to sole entrepreneurs who sell domestic goods inside Belarus.