Belarus’ officials ready to sign EEC founding treaty, but cannot guarantee its implementation

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April 22, 2016 18:50

During the Belarusian Industrial Forum, Belarus’ First Deputy Prime Minister Vladimir Semashko said that Belarus was ready in principle to sign the Eurasian Economic Community founding treaty. However, some bilateral issues between Minsk and the Kremlin remain unresolved, such as oil duty exemptions and a USD 2 billion intergovernmental loan, although President Lukashenko said that he reached relevant agreements during his meetings with presidents of Kazakhstan and Russia on May 8th. It is likely that the presidents of Belarus, Kazakhstan and Russia will sign the EEC founding treaty as planned – on May 29th. But the document might be a declaration of intent without rigorous terms and obligations.

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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.

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