Ac­cel­er­a­tion Fac­tors

In­crease in Be­larus’ GDP dur­ing the cur­rent five-year pe­riod is ex­pected at 62% to 68%

Economy of Belarus - - 2011-2015: FIVE YEARS OF GROWTH - Sergei RU­MAS, Deputy Prime Min­is­ter of the Repub­lic of Be­larus

Busi­ness and In­vest­ment Ac­tiv­i­ties

One of the main fac­tors be­hind the planned ac­cel­er­a­tion of eco­nomic growth should be the cre­ation of fa­vor­able con­di­tions for the de­vel­op­ment of busi­ness and in­vest­ment ac­tiv­i­ties in Be­larus.

In this re­gard, the Pro­gram of Gov­ern­ment Ac­tion for the Years 2011-2015 ap­proved by Res­o­lu­tion No. 216 of 18 Fe­bru­ary 2011 of the Coun­cil of Min­is­ters pro­vides for a com­pre­hen­sive im­prove­ment of the na­tional leg­is­la­tion in or­der to ac­com­plish the task set by the head of state to make the coun­try, within the next sev­eral years, one of the 30 na­tions with the best con­di­tions for do­ing busi­ness.

For this, it will be nec­es­sary, on the one hand, to change the or­ga­ni­za­tional forms of ad­min­is­tra­tion and, on the other, to cre­ate the real con­di­tions for the growth of small and medium-sized busi­nesses, give free­dom to busi­nesses in de­ci­sion mak­ing and re­al­iz­ing their ini­tia­tives, ex­pand their in­vest­ment op­por­tu­ni­ties. The main prin­ci­ple is to have healthy competition ev­ery­where where it is pos­si­ble and state reg­u­la­tion where it is nec­es­sary. To ap­ply this prin­ci­ple, we plan to cre­ate equal con­di­tions for the op­er­a­tion of state-owned and pri­vately-held com­pa­nies, re­con­sider the meth­ods of reg­u­la­tion of eco­nomic pro­cesses, limit the di­rect in­volve­ment of the state in

in ac­cor­dance with the main pro­vi­sions of the So­cial and Eco­nomic de­vel­op­ment Pro­gram of the repub­lic of Be­larus for the Years 2011-2015 ap­proved by the 4th all Be­larus Peo­ple’s Congress, the an­nual in­crease in gross do­mes­tic prod­uct (GDP) dur­ing the cur­rent five-year term is ex­pected at 10% to 11%, which is a quar­ter more than the av­er­age GDP growth over the past ten years (7.4%).

eco­nomic ac­tiv­i­ties, en­sure that the re­spon­si­bil­ity for eco­nomic of­fences is pro­por­tion­ate to the dam­age done by such of­fences, im­ple­ment a range of other sys­tem­based mea­sures, etc.

The first step here will be fine­tun­ing the cur­rent leg­is­la­tion to Direc­tive No. 4 of the Pres­i­dent of the Repub­lic of Be­larus “On the Pro­mo­tion of En­tre­pre­neur­ial Ini­tia­tive and Stim­u­la­tion of Busi­ness Ac­tiv­ity in the Repub­lic of Be­larus.” Specif­i­cally, in the first quar­ter of 2011 a set of reg­u­la­tory legal acts will be pre­pared in or­der to im­ple­ment the di­rect ef­fect pro­vi­sions con­tained in the Direc­tive, af­ter which we will bring, as quickly as pos­si­ble, other rel­e­vant amend­ments and al­ter­ations to the ex­ist­ing laws so as to en­sure the im­ple­men­ta­tion of the other pro­vi­sions of the Direc­tive.

The spe­cific legal and ad­min­is­tra­tive mea­sures for car­ry­ing out sys­tem­atic re­forms and cre­at­ing an en­abling en­vi­ron­ment for the ex­e­cu­tion of busi­ness op­er­a­tions, de­vel­op­ing a large com­pet­i­tive sec­tor of small and medi­um­sized busi­ness will be part of the ac­tiv­i­ties aimed at im­ple­ment­ing the pro­vi­sions of the Direc­tive ap­proved by a joint res­o­lu­tion of the Coun­cil of Min­is­ters of the Repub­lic of Be­larus and the Na­tional Bank.

In gen­eral, the gov­ern­ment in­tends to im­ple­ment a set of sys­tem-based mea­sures aimed at im- prov­ing reg­u­la­tion at all stages of the life-cy­cle and ev­ery-day op­er­a­tion of com­mer­cial en­ti­ties.

Specif­i­cally, we plan to im­prove the pro­ce­dures of reg­is­tra­tion and liq­ui­da­tion of com­mer­cial en­ti­ties. This means spec­i­fi­ca­tion of the legal doc­u­ments that iden­tify the amounts of and the pro­ce­dure of cre­at­ing au­tho­rized funds of com­mer­cial en­ti­ties, abol­ish­ment of the manda­tory chang­ing of the found­ing doc­u­ments of a legal en­tity if the en­tity is sold as a prop­erty com­plex, lift­ing of the pro­hi­bi­tion im­posed on an in­di­vid­ual en­tre­pre­neur to per­form busi­ness op­er­a­tions re­gard­less of the pe­riod that has passed since the de­ci­sion on re­peal­ing his state reg­is­tra­tion.

In tax­a­tion it is planned to re­duce the tax bur­den on com­mer­cial en­ti­ties, in­clud­ing by re­duc­ing the profit tax rate by 2% to 4%, giv­ing busi­nesses the priv­i­lege of reg­is­ter­ing losses as fu­ture rev­enues, ex­pand­ing the ap­pli­ca­tion of the sim­pli­fied tax­a­tion schemes.

To ease the tax ad­min­is­tra­tion, it is planned to im­prove the proce-

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