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Belarus is ready to relax business environment to boost employment

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April 17, 2017 13:07

Drafts amendments envisaging simplification of rules for doing business have been published in Belarus. If adopted, the amendments would introduce a notification procedure for starting some kind of businesses; a moratorium on new taxes and fees would be announced for 2018-2020; proposals to further reduce the tax burden on business would be developed. The amendments are likely to be adopted following consultations with business representatives. If adopted, the amendments could lead to an increase in new regional SMEs in trade, catering and agro-ecotourism. In the short-term, the amendments are unlikely to have a significant impact on the labour market. In addition, a reduction in the number of audits and inspections would not affect government’s plans for listing penalties in the budget. Attempts to liberalize business could be linked to the inability of the state bodies to ensure full employment in Belarus. By relaxing business environment, the state is attempting to stimulate self-employment among the population in order to reduce the burden on the budget in anticipation of further layoffs at state enterprises.

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