Reducing VAT refund delay to 60 days may reduce prices on imported products

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November 07, 2016 10:58

According to the decree No 396 of October 28th, 2016, as of January 1st, 2017, the delay in VAT refund will be reduce from 90 to 60 days. The delay in VAT refund was introduced in order to make imported goods more expensive. When importing goods outside the EEU, importing companies are crediting the state with import VAT, hence, they are prompted to take bank loans. Thanks to the new regulation, imported goods are likely to become less costly - by the cost of a one-one and a half months loan. Importers may take fewer loans and the state will start seeking for extra budgetary funds in order to bridge the gap from reduced VAT receipts in Q1 2017. If Belarus continues to advance with the WTO accession, and if budget revenues improve, this discriminatory measure against imported goods could be abandoned.

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Belarusian authorities step up pressure on opposition before street protests
October 02, 2017 12:20
Image: "Новы Час"

During searches of social and "green" activists and anarchists, law enforcement has seized computers, mobile phones and publications. The authorities have also exerted additional pressure on supporters of unauthorized street protests and independent lawyers, who represented defendants in the White Legion case. The security services have stepped up the persecution of opponents before the street protests announced by the opposition. Apparently, the Belarusian authorities aspire that participants in street protests would reduce in number and that the low interest of the population to socio-political agenda before the local election campaign would retain.

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