Belarusan Finance Ministry is above to raise taxes for individual entrepreneurs

The government has developed amendments to the Tax Code, which provide for an increase of 10 per cent on average in the rates of so-called “single tax” levied on individual entrepreneurs in 2014.

The tax is a fixed amount that is paid by sole entrepreneurs irrespective of their proceeds and varies by region and specific locality.

The single tax rates were raised by 20 to 25 per cent this year, BelaPAN informs.

The highest tax rates are applied to sole entrepreneurs based in the city of Minsk and the Minsk region, followed by Brest and Hrodna. The single tax rates in Vitsiebsk, Mahilou and Homel are lower, while sole entrepreneurs based in smaller cities have to pay even less.

The highest single tax applies to car traders in Minsk who pay 1.5 million roubles ($170) per month. Sole entrepreneurs who engage in agricultural activity in rural areas pay 50,000 roubles ($5.6) per month, the lowest level of single tax.