The application of the simplified tax system is being improved in Belarus

August 11, Minsk /Corr. BELTA/. The application of the simplified taxation system is being improved in Belarus. President of Belarus Alexander Lukashenko signed Decree No. 349 "On Certain Issues of Application of the Simplified Taxation System" on August 9, BELTA was informed by the press service of the Belarusian leader.

The document is aimed at implementing the provisions of Presidential Decree No. 4 of December 31, 2010 "On the Development of Entrepreneurial Initiative and Stimulation of Business Activity in the Republic of Belarus" and, in particular, at improving the application of the simplified taxation system.

In accordance with the decree, the right is granted to: organizations and individual entrepreneurs to apply the simplified system in 2011 with gross revenue not exceeding Br12 billion cumulatively during the calendar year (application of the simplified system without VAT payment, as well as using gross income as a tax base is possible with gross revenue (income) of Br3.4 billion); organizations with a staff of no more than 15 people, as well as individual entrepreneurs, not to maintain accounting and reporting, but to keep records in the book of accounting for income and expenses of organizations and individual entrepreneurs applying the simplified system; taxpayers who, before the decree came into force, switched from the simplified system to the general system or to the simplified system with VAT payment, to resume the application of the simplified system.

The decree enshrines the norm on the absence of the need to re-submit an application to the tax authority for resuming the application of the simplified system by taxpayers who have ceased to apply it, and also regulates the procedure for recalculating taxes, fees (duties), and other mandatory payments in cases of switching from the simplified system to the general system or vice versa.

The document also defines the maximum gross revenue for switching to the simplified tax system from January 1, 2012. Taking into account the increase in the maximum gross revenue to Br12 billion established by the document, the corresponding gross revenue for the first 9 months of 2011, upon meeting which organizations and individual entrepreneurs can submit an application to the tax authority at their place of registration from October 1 to November 30, 2011, to switch to the simplified tax system from January 1, 2012, will amount to Br9 billion.-0-