State budget to subsidise potash fertilizer export
Presidential decree No 138 of March 31st, 2014 has extended the regulation establishing zero export duty on potash until December 31st, 2014.
The government has decided to extend financial support to Belaruskali amounting to USD 400 million. In March 2014, Belarus’ exports of potash were record high, but potash prices on the global market have been growing slower than anticipated. Therefore, Belaruskali, in order to maintain its share in the global market, has to keep prices on Belarusian potash fertilisers low.
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.