Sergei NALIVAIKO. Tax News

Be­larus’ tax leg­is­la­tion will be­come more con­sis­tent and pre­dictable

Economy of Belarus - - CONTENTS -

Be­larus’ tax leg­is­la­tion will be­come more con­sis­tent and pre­dictable

Th­ese days the role of tax­a­tion is be­ing dramatically re­vised as taxes are more of­ten viewed as an in­stru­ment to stim­u­late the pri­vate sec­tor and the econ­omy in gen­eral. Tax benefits can help pro­mote in­no­va­tions, raise in­vest­ments and boost ex­port… More­over, taxes gen­er­ate more than 70% of state bud­get rev­enues. How to achieve a bal­ance of in­ter­ests of tax­pay­ers and the state? What tax reg­u­la­tion mech­a­nisms will come to the fore­front in the near fu­ture? Th­ese and other ques­tions have been ad­dressed by the Econ­omy of Be­larus Mag­a­zine to Min­is­ter of Taxes and Du­ties of the Repub­lic of Be­larus Sergei NALIVAIKO.

Mr Nalivaiko, what are the ar­eas of fo­cus of the Be­laru­sian tax au­thor­i­ties to­day?

The ex­ist­ing tax rates help main­tain smooth op­er­a­tion of the econ­omy and ad­e­quate fi­nanc­ing of public spend­ing.

In or­der to make the tax sys­tem more ef­fi­cient, we need to im­prove the qual­ity of tax ad­min­is­tra­tion, rather than change tax rates. It is also im­por­tant to en­sure sta­bil­ity and pre­dictabil­ity of the tax leg­is­la­tion in or­der to stim­u­late eco­nomic ac­tiv­i­ties. We also need to make sure that taxes are paid in full and in time. This can be done by im­prov­ing tax ad­min­is­tra­tion and con­trol and search­ing for ad­di­tional bud­get rev­enues.

Thus, the pri­or­ity task of the Be­laru­sian tax sys­tem is to make tax laws con­sis­tent and to avoid loop­holes. Have you made much progress here?

Newspapers in English

Newspapers from Belarus

© PressReader. All rights reserved.