Single tax rate for Minsk private entrepreneurs increases by 15%

On March 1, 2015 a single tax rate for Minsk private entrepreneurs, excepting those who rent an apartment for a day, will be increased by 15%.

The decision has been made today at the session of the Minsk City Council of Deputies, BelTA reports.

According to Uladzimir Laikou, the Head of the Inspection of Tax and Duties Ministry in Minsk, the draft decision on the increase of the single tax rate was based on the analysis of income tax payers. In nine months revenue of some private entrepreneurs has increased in 1.2-1.3 times as compared to the same period of 2013. In this case, 38% of private entrepreneurs have had revenue in 30 times higher than the sum of the single tax, and they have additionally transferred in the budget Br17.6 billion.

The private entrepreneurs, renting 1-2 bedroom apartments a day, will pay the tax fixed at Br900 000, 3-room apartments will cost Br1.8 million. The apartments in the fifth economic-planning area will cost Br760 000 and Br1.5 million respectively.

In 2015 the expected revenue from single tax will be about Br230 billion. And more than Br30 billion will be additionally loaded to Minsk budget.