A reduction in the tax burden will allow enterprises in the Vitebsk region to direct more than Br200 billion to development in 2012.

March 27, Vitebsk / Diana Kurilo - BELTA /. As a result of the tax burden reduction in 2012, business entities of the Vitebsk region will be able to direct more than Br200 billion to production development, the Vitebsk Regional Executive Committee's Economy Committee informed a BELTA correspondent. As a result of improving tax administration, the gross revenue thresholds for small and medium-sized businesses, expanding the possibilities of applying the simplified taxation system, have increased from Br3.1 billion to Br12 billion. The profit tax rate has been reduced from 24% to 18%, a mechanism for carrying forward losses of previous years to the current year's profit has been implemented, the mechanism for direct profit preferential treatment has been replaced by financing capital investments through accelerated depreciation of fixed assets, and an electronic declaration system has been introduced. As a result of these changes, business entities will be able to direct more than Br200 billion to production development, create new jobs, which will provide additional tax deductions to the budget. -0-