Belarus is seeking additional revenues due to reduced proceeds from export duties
In 2016, the Finance Ministry expects to raise USD 1.1 billion from duties on exports of petroleum products. Earlier it was estimated that the annual proceeds will be at least USD 1.5 billion. Due to lower proceeds from oil duties, Belarus may step up export schemes to sell petrochemical products produced from Russian oil and increase imports of gasoline and diesel fuel from Russia. Belarus may use any restrictions on fuel supply from Russia to Ukraine to gain additional revenues. Belarus is unlikely to resume large-scale export schemes of bituminous mixtures and solvents, but Russia will not seriously object if such schemes are implemented in reasonable amounts (USD 100-200 million per year).
The Labour and the Tax Ministries are considering the possibility to include persons engaged in some economic activity without forming a legal entity in the social security system. When the decree No 337 comes into effect, the number of private entrepreneurs is likely to reduce due to the possibility of reducing the tax burden when switching to a tax payment as an individual. 95% of self-employed, including PE, pay insurance premiums on the basis of the minimum wage. The number of self-employed citizens is expected to increase, the number of insurance contributions to the pension system from PE will decrease, the number of citizens who will pay a fee to finance government spending will decrease by several tens. Self-employed citizens have the alternative not to pay social security fees and save resources for future pensions, which, given the gradual restriction by the state of pension requirements could be a more long-sighted option.