LIBERALISATION in the Belarusian Economy
BELARUS efforts to encourage more businesses and economic growth Short-cut list of the Government’s liberalisation measures
Business Running |
Done |
Pending |
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Launching business |
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| Registration of business on the day of application, no longer | |||
| Number of papers required for registration shortened (application, statutory paper and registration fee) | |||
| No minimum level of capital assets to launch business | |||
| Fewer requirements for statutory papers | |||
| Shorter list of papers required for setting up a bank account | |||
| No refusal to register business if papers submitted correctly | |||
| Starting business activities virtually the next day after submitting application | |||
| Easier registration in a tax agency: now through a single processing line | |||
| Inspections by supervisory agencies suspended | |||
| Accounting requirements relaxed with less paper work | |||
| Faster business liquidation | |||
| Insolvency procedure eased and streamlined | ● |
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Salary and bonus calculation |
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| Simpler regulations for salary and bonus calculation | |||
| Larger legal leeway for CEOs in calculating salaries and bonuses | |||
Land and real property lease |
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| Minimum lease (sublease) term of premises – 3 years | |||
| No state registration of real property lease contract or changes in contract | |||
| Real property lease contract effective from date of signing | |||
| State fee for land lease contract halved | |||
| No fees or taxes for companies leasing state property for free | ● |
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| Fewer land lease operations subject to regulation | ● |
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| More rights to use land as a bail | ● |
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Preferences in R&D |
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| Legal right for universities to set up businesses for R&D | ● |
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| Large legal and commercial leeway for such businesses | ● |
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| No customs tariffs and VAT for R&D-required equipment coming in | ● |
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Export/import operations |
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| Easier regulations and control procedures in export/import operations (EIO) | |||
| EIO by mere notification of a bank, no special “passport” as formerly | |||
| No registration of EIO if transaction paid fully and beforehand | |||
| Number of EIO out of monetary control procedures | |||
Construction activities |
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| Uniform requirements list for building up premises | |||
| Fewer regulations in construction activities | ● |
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| No limitations for building up gasoline stations | ● |
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Requirements & Regulations (for businesses) |
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Taxes |
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| 12% income tax | |||
| 8% aggregate revenue (VAT-free) tax | |||
| 6% aggregate revenue (VAT-paid) tax | |||
| 5% local sale and services tax | |||
| 3% transport purchase tax | |||
| 1% agricultural production support tax | |||
| No fixed assets taxes | ● |
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| No agricultural production support tax | ● |
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| No sale and service tax | ● |
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| No transport purchase tax | ● |
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Administrative procedures |
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| Tax declaration submitted electronically (no more hard copies) | |||
| Unifom list of all administrative procedures for businesses (no deviation) | |||
| Administrative procedures cut by 25 per cent | ● |
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| 170 procedures listed for elimination | ● |
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| Licence regulations eased and streamlined | ● |
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| 119 ‘licence-free’ activities | ● |
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| 15 days to get a licence instead of 30 days before | ● |
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| Reasons to suspend licence listed uniformly | ● |
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Price Regulations |
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| Simpler registration procedure of prices | |||
| No registration of prices for new commodities or services | |||
| Shorter list of commodities and services with prices regulated by Government | |||
| Freer pricing in more areas | ● |