Belarus government praised for small business incentives

      Wider application of the simplified taxation scheme and the reduction of the income tax for businesses that use the scheme will give a serious impetus to the development of small businesses in Belarus, Alexander Kalinin, Chairman of the public association Belarusian Union of Entrepreneurs, told media. Alexander Kalinin reminded that improving operation terms for small and medium businesses are the key goal of Directive No. 4. He said that the Belarusian business community had also contributed to the raising of the limits set by the simplified taxation scheme as from 2013. According to Alexander Kalinin, the decisions that have been made will encourage the return of the businessmen, who once removed their business beyond the borders of Belarus. The country will feel the full effect of the measure in 1-1.5 years, believes the representative of the business community.
     According to Alexander Kalinin, the reduction of the income tax from 7% to 5% for enterprises that use the simplified taxation scheme will also encourage the development of small businesses.