Rural entrepreneurs in the Vitebsk region received tax benefits worth Br46.4 billion in 2011.

May 15, Vitebsk / Diana Kurilo - BELTA /. More than 160 business entities in the Vitebsk region took advantage of tax incentives provided to businesses in small towns and rural areas in 2011 in accordance with Decrees No. 1 and No. 9, the press center of the Ministry of Taxes and Duties Inspectorate for the Vitebsk region informed a BELTA correspondent. 131 business entities in the region benefited from the preferences of Decree No. 9 "On Certain Issues of Regulating Entrepreneurial Activity in Rural Areas". Among them are 79 legal entities, the rest are individual entrepreneurs. The total amount of benefits provided under this decree last year amounted to Br46.4 billion, of which Br46.3 billion accounted for legal entities. 31 business entities took advantage of the provisions of Decree No. 1 "On Stimulating the Production and Sale of Goods (Works, Services)" last year, with the amount of tax benefits exceeding Br7 billion. Decree No. 6 of May 7 of the current year "On Stimulating Entrepreneurial Activity in the Territory of Medium-Sized, Small Urban Settlements, and Rural Areas" has consolidated and updated the previously adopted Decrees No. 1 and No. 9. As noted by the tax inspectorate, its provisions are aimed at stimulating business development in small towns and rural areas, developing existing and creating new industries, which will lead to the creation of new jobs, strengthening the economic potential of the regions, and creating a favorable investment climate. The new decree provides for the granting of tax benefits on profit tax, real estate tax, income tax, and deductions to innovation funds to organizations and individual entrepreneurs located and operating in medium-sized, small urban settlements, and rural areas for the production of goods (performance of work, provision of services). -0-