OREANDA-NEWS. April 12, 2011. The Belarusian Finance Ministry plans to reduce the profit tax rate to at least 20% in 2012-2014 from 24% currently, the head of the central department for tax policy and budget revenues Dmitry Kiyko told reporters in Minsk.

“There are a few options that we will address when drafting fiscal guidelines for 2012-2014, including a gradual reduction in the tax rate by 2 points a year or one-off reduction,” he said.

He said Belarus aimed to offer businesses the lowest profit tax rate in the region.

“As a result, we will reach 20%, but if the budget situation permits us, we would like to bring the rate down to 18%,” Kiyko said.