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Government has no plans to lower taxes next year, minister says

The government has no plans to reduce the rates of value-added, excise, profit, real estate and land taxes in 2015, Tax Minister Uladzimir Paluyan said during an online questions-and-answers session hosted by the government's news agency BelTA on July 9.

He added that changes that would be introduced to the Tax Code next year would not involve lowering tax rates.

The tax burden on the economy has decreased dramatically in the past few years, according to the minister.

The rate of the single tax paid by agricultural producers has been lowered from two to one percent of the proceeds since 2011, said Mr. Paluyan.

The rate of the tax paid by businesses eligible for the simplified taxation scheme was reduced in 2012 and last year.

Businesses qualifying for the scheme are required to pay only one tax. The government cut the tax rate from eight to five percent of the proceeds in the period. Businesses that are required to pay value-added tax in addition to the tax had the latter's rate lowered from six to three percent of the proceeds. //BelaPAN