Error message

Belarusian state will use opportunity to replenish budget from profit tax

August 28, 2017 12:47

According to Decree No 298 of August 21st, 2017, commercial enterprises will be able to write off the exchange differences on expenses related to financial activity, which occurred as of December 31st, 2017 but not later than December 31st, 2018. The decree was adopted due to the performance of Belarusian enterprises in June 2017, when the monthly net profit in the economy totalled BYN 16 million, which was 45 times less than in May 2017. The fall in profit was due to the weakening of the national currency to the US dollar and the euro. After writing off the exchange rate differences, profit indicators should improve at some state enterprises. Commercial enterprises are not interested in increasing profits due to the need to subsequently increase tax payments. Future financial performance of the economy will largely depend on the possible weakening of the Russian rouble. Unprofitable enterprises could use the decree to improve their financial performance. The state is unwilling to disregard any means to replenish the state budget, even in the case of budget surplus and the lack of problems with servicing external debt. The government is likely to continue to use fines and other forms to replenish the state budget.

Similar articles

Minsk attempts to make up for image losses from military exercises by opening to Western values
October 02, 2017 11:49
Image: Catholic.by

The Belarusian authorities regard the Catholic conference as yet another international event to promote Minsk as a global negotiating platform. Minsk’s proposal to organise a meeting between the Roman-Catholic Church and the Russian Orthodox Church is rather an image-making undertaking than a serious intention. However, the authorities could somewhat extend the opportunities for the Roman-Catholic Church in Belarus due to developing contacts with the Catholic world.

Minsk is attempting to lay out a mosaic from various international religious, political and sportive events to shape a positive image of Belarus for promoting the Helsinki 2.0 idea.

Belarus’ invitation to the head of the Holy See for a meeting with the Patriarch of the Russian Orthodox Church should be regarded as a continuation of her foreign policy efforts in shaping Minsk’s peacekeeping image and enhancing Belarus’ international weight. The Belarusian authorities are aware that their initiative is unlikely to find supporters among the leadership of the Russian Orthodox Church in Moscow. In Russia, isolationist sentiments prevail.

In addition, for domestic audiences, the authorities make up for the lack of tangible economic growth with demonstrations of growth in Minsk’s authority at international level through providing a platform for religious, sportive and other dialogues.