Income tax to be reduced in Belarus?

Income tax to be reduced in Belarus?

The Ministry of Finance has announces the main points of the tax reform for the nearest future.

The aim of the changes is to support Belarusians not with high salaries and attract investors. The policy of financial regulator is the same as the European tax practice. In The last years, VAT has increased in Europe, but corporate income taxes are being reduced.

By 2020, the Ministry of Finance has to present a package of tax reforms. Even the most radical variants are being discussed, when the income tax and tax on profits will be set at 10%, and the VAT will be set at 20%. The main thing here is to keep the balance: no to put much pressure on business, but at the same time to provide a stable fund income into the budget.