OREANDA-NEWS. November 03, 2009. Belarus may halve the tax rate for companies working under the simplified taxation scheme, the chair of the republican confederation of entrepreneurs, Viktor Margelov, told.

“We have been told that the draft ordinance on the reduction of tax rates was submitted to the Presidential Administration. It halves the tax rate on proceeds for Belarusian companies that use the simplified taxation scheme to 4%. Also, it is planned to double to 2 billion Belarusian rubles (Br) annually the gross revenue limit for businesses with fewer than 15 personnel to enjoy the simplified taxation procedure,” Margelov said.

It was reported earlier that Belarus would adjust the revenue criterion for application of the simplified taxation scheme depending on the inflation rate.

President Alexander Lukashenko in early 2009 signed an ordinance to reduce starting January 1, 2009 simplified tax rates to 8% from 10% for payers that choose not to pay the value-added tax, to 6% from 8% for payers that choose to pay the value-added tax, and to 15% from 20% for those using gross incomes as the taxation base.