Belarus - delegate.com · Total stretch of roads in use: 5 490 km 75 000 km logistic centers 20...
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Transcript of Belarus - delegate.com · Total stretch of roads in use: 5 490 km 75 000 km logistic centers 20...
EU
Belarus
RussiaKazakhstanArmeniaKyrgyzstan
EU -> Belarus -> Russia, Kazakhstan, Kyrgyzstan, Armenia
10 mln
customers ofBelarus
180mln
customers ofEEU
Total stretch of roads in use:
5 490 km
75 000 km
logistic centers20
railway lines
highways
Transport and logistics infrastructure
“Why Belarus? Two words – SMART PEOPLE. Belarus has a reputation of a country with a high scientific potential” - Cliff Reeves, General Manager of Microsoft New Business-Models Development
KZ; 390
Average nominal salary, USD
BY; 300
RU; 520
Average nominal salary, USD
CH; 740
KZ; 390
BY; 300
RU; 520
Average nominal salary, USD
CH; 740
KZ; 390
BY; 300
RU; 520
BELARUS
Italy 45th
Ease of Doing Business Index
Russia
44th
Ukraine
51st
55thTurkey
83d
China 84th
Doing Business 2016
among the most reformative countries
th
Doing Business 2016
94 57
BELARUS
Turkey 62nd
Trading Across Borders Rank
China
25th
96th
122thKazakhstan
Protecting minority investors rank
«Paying Taxes» DB Indicator composition & comparison with Europe & Central Asia Region & OECD
IndicatorRepublic of
BelarusEurope & Central
AsiaOECD
Payments(number per year)
7 19,2 11,1
Time(hours per year )
176 232,7 176,6
Total Tax Rate(% of profit)
51,8 34,8 41,2
Countries with comparable level of Total Tax Rate (% of profit)
Country Paying Taxes RankTotal Tax Rate
(% of profit)Payments
(number per year)
Time(hours per year )
Spain 60 50,0 9,0 158
Belarus 63 51,8 7 176Austria 74 51,7 12,0 166
Ukraine 107 52,2 5 350
Japan 121 51,3 14 330
Czech Republic 122 50,4 8,0 405
Jamaica 146 51,3 37,0 358
Cote d'Ivoire 176 51,9 63,0 270
Tax System of the Republic of Belarus
• VAT• Corporate Income Tax• Land Tax• Real Estate Tax
• Social Contributions
Taxes paid in connection with activity implementation
• Excises• Ecological Tax• Custom Duties• Other taxes, charges, duties
Taxes paid at emergence of specific objects of taxation
Corporate Income Tax(8,2 % of General Government Balance)
VAT(27,3 % General Government Balance)
1. The level of rate of 18% - the lowest among thecountries of the Eurasian Economic Union and themajority of Europe countries
1. The term of refund of “input” VAT accounts 1month and it is the shortest among the EurasianEconomic Union Countries
2. Tax exemption while producing innovative and high-tech products
2. VAT exemption of socially significant products andservices (basic set of products, medicines, children’sgoods, medical services)
3. Possibility of investment deductions (profit on development doesn’t liable to tax)
3. Full VAT exemption of the imported manufacturingequipment
4. Possibility to transfer losses of past years on futureprofits
The Influence of Profit Tax & VAT on the Investment Climate
Preferred Tax System
Monetary Targeting
Monetary policy target for 2016: limit inflation to 12% (December 2016 to December 2015).
Intermediate goal: limit average broad money growth by 16 - 20 %(December 2016 to December 2015).
Operational indicator: change in the ruble monetary base.
Exchange Rate Policy
- a more flexible exchange rate policy since January 2015.
- interventions in order to reduce sharp daily exchange rate volatility of the national currency only
- further strengthening of the exchange rate flexibility by implementing a mechanism of currency trade in the form of continuous double auction
Monetary Policy
The volume of international reserves is maintained at a sufficient levelneeded, among others, to make timely repayment of Government’s and theNational Bank’s foreign and domestic debts
In 2014 the net repaid amount totaled USD 4 billion;in 2015 – USD 3.6 billion
Currently, foreign reserves to imports ratio is estimated at a level of 1.5months
Dynamics of Banks’ Claims and Term Deposits
Main Characteristics of the BelarusianBanking Sector
26 banks (5 banks with 100%
foreign capital share)
Regulatory capital:
Assets:
Number of banks:
USD32.2 billion
72.7% of GDP
USDUSD3.9 billion
8.9% of GDP
26 operating banks(as of April 01,2016),
including:
5 banks controlled by the state
16 banks controlled by foreign capital
Belarusian Banks’ Sustainability
The regulatory capital requirements:
