Belarus has greatly simplified the tax system over the past few years, by reducing the tax burden by 5% and leaving only five of taxes. This was stated by Prime Minister of Belarus Sergei Sidorski at the Belarusian Investment Forum in Frankfurt / Main (Germany) on November 17. "Now the tax system is not different from the one you have in Europe," he said.
Moreover, according to the head of government, special preferential regimes are operating in free economic zones with only three taxes to pay. High-Tech Park near Minsk requires only one tax from entrepreneurs, Sergei Sidorski.
According to Telegraf, a special preferential regime is created for roadside service as well. «Rates are half reduced for them,» the prime minister said.
One can Start a Business in Five Days in Belarus, Sidorski
One can start a new business in five days in Belarus, having to do five procedures. For comparison, this process takes 15 days in Germany and requires nine procedures, six and six in Italy, respectively, the head of the Belarusian government said.
According to him, Belarus has been making great efforts to attract foreign investors. In particular, the country has created the National Agency for Investment and Privatization, has simplified licensing procedures and introduced free pricing.
In addition, the government has expanded the powers of local authorities and allowed to lease land and buildings for 99 years in order to attract investment in the regions.
