OREANDA-NEWS. June 23, 2010. Minsk city administration suggests reducing the profit tax for export-oriented companies to 10%-15% from 24%, acting mayor Nikolai Ladutko told.

“We have submitted to the government a block of additional economic measures to encourage exporters. We suggest introducing tax rebates and cutting the profit tax rate to 10%-15% depending on the volume of export,” he said.

He said the administration suggested drawing up a list of key exported commodities and identifying the producers of these goods. “It is also important to spread information about these products abroad using the innovation fund of the Trade Ministry,” Ladutko said.

Minsk reported a USD 1.4 billion trade deficit in January-May. Ladutko believes the capital city must boost export of services, especially information services, develop logistical centers and redirect transport flows.