The reduction in the tax burden in 2011 will leave over Br100 billion at the disposal of enterprises in the Vitebsk region.

December 10, Vitebsk / Diana Kurilo - BELTA /. A reduction in the tax burden will allow economic entities of the Vitebsk region to retain more than Br100 billion in 2011. This was announced today at a regular session of the Vitebsk Regional Council by the head of the financial department of the Vitebsk Regional Executive Committee, Alexander Sergiyenok. He presented the draft regional budget for 2011 to the deputies, BELTA correspondent reports. The draft regional budget for the next year provides for revenues totaling Br4.2 trillion. The directions of the fiscal and tax policy and macroeconomic indicators were taken into account when determining the revenue part of the budget. The state has taken measures to drastically reduce the tax burden and tax administration. Over the past five years, 26 payments have been canceled, including turnover taxes, and 57 systemic measures have been introduced to simplify the tax system, Alexander Sergiyenok noted. A reduction in the tax burden on the economy will allow enterprises in the region to retain more than Br100 billion. "These are additional investments and working capital," the financier emphasized. The main sources of revenue will be value-added tax, personal income tax, profit tax, land and property taxes. Regional budget expenditures are projected at more than Br4 trillion and maintain a social focus. 57% of the expenditure part of the budget will be allocated to the social sphere. At the same time, the growth of expenditures in certain sectors will be 30-40% compared to the 2010 level. When forming budget expenditures, an increase in salaries in the public sector, scholarships for pupils and students is planned in the economic structure. Local budgets concentrate significant resources to support the agro-industrial complex. They are projected at Br483 billion, which is twice the level of 2010. Deputies of the Vitebsk Regional Council approved the regional budget. -0-