09-07-2012 10:44 Belarus
Belarus introduces tax collection practice based on date of shipment
MINSK (PRIME-TASS) - Belarus’ Tax Ministry suggests optimizing present-day tax collection practices to make the date of shipment a principal timeline for all taxpayers to pay their income tax, VAT and excise taxes, Vice Minister Ella Selitskaya told reporters Friday.
At the moment, state-owned companies pay their taxes based on the date of shipment of commodities supplies, while small and medium business companies synchronize their taxes with the date of payment.
The tax collection principle will not in the least worsen the business environment, the vice minister assured.
The only exception, although temporary, will be made for small companies (less than 15 staff members), which will continue to synchronize theit tax payments with the date of shipment till the end of the year.