A black list of companies and entrepreneurs will be published in Belarus

A list of commercial organizations and self-employed entrepreneurs bearing high risk of economical violations will be created in Belarus.

On October 23rd the President of Belarus Alexander Lukashenko signed a Decree No. 488 on “Measures preventing illegal minimization of sums under tax obligations".

The Decree addresses a complex prevention of a number of economical violations executed by implementation of pseudo-commercial enterprises, as the press service of the head of the state informs.

The paper implies a number of reasons for putting enterprises in this list. The list will also include the information about enterprises, which activity was found pseudo-operational by the court or the bank accounts or forms of which were used for illegal purposes. Also receiving income and not filling tax returns within two accounting periods afterwards, or filing these tax returns without income indication will be considered reasons for entering the list. In total the Decree provides five comprehensive reasons allowing to put an enterprises in the list.

According to the Decree, an enterprises will be informed in advance about the intent of entering its data in the list. Following the remedy of defaults the business reputation of an enterprise will be restored.

The list will available on the official website of the Ministry of Taxes and Duties, allowing bona fide enterprises to get information while making a decision, as well as to avoid the risk of non-payment of taxes and other negative financial outcomes, which can be caused by mischievous acts of mala fide entities.

The Decree also provides additional inspecting measures of primary accounting documents of enterprises. Such inspection will see if the documents belong to the sender of the goods and whether the forms of such documents are valid.