Lifted restrictions on fuel exports may somewhat improve retail trade turnover

Category status:
July 26, 2016 0:51

As of September 1st, 2016, Belarus will abolish restrictions on export of motor fuel from Belarus. Since November 2011, those who travelled by car outside the Customs Union more frequently than once in eight days, were required to pay duty on fuel in the car. Motor fuel makes about 5% of the total retail turnover. Retail price on motor fuel is unlikely to go up, while wholesale price is likely to increase. Motor fuel trade is likely to boost in the bordering regions with the Baltic States and Poland. Hence, Grodno and Brest oblasts are likely to report some increase in retail trade turnover and higher tax payments to the state budget. Fuel prices in Russia restrict fuel price growth in Belarus. If prices go up, de-centralised import of fuel by citizens in the bordering regions with Russia is likely to increase.

Similar articles

Number of citizens excluded from social security system would be expanded
October 02, 2017 12:24

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.

Recent trends