Bill "On Amendments to Budget and Tax Codes of Belarus" passed by deputies

A number of important economic issues were discussed today at a meeting of the eighth session of the House of Representatives. The budget and tax legislation is being improved in Belarus through innovations and approval of reports.

The relevant amendments have been passed in the first reading. The order of crediting penalties from non-payers to the Social Security Fund in terms of insurance premiums is established. From now on, these fines will be counted directly to the Social Security Fund, and not to the national budget, as it was before. A new chapter has been added to the Tax Code, a fee for advertising for individual entrepreneurs and legal entities. In addition, according to the amendments, the President is empowered to promptly make adjustments to the Budget Code.

Sergey Stelmashok, deputy of the House of Representatives of the National Assembly of Belarus:

“What is the purpose of this? You may remember the year 2020, when the COVID-19 pandemic was a rather difficult situation in which funds were needed to purchase medicines, buy vaccines, increase the number of beds, and determine incentive payments for health workers. All of this required additional funds, as you understand, within the framework of the budget, which is quite labor-intensive and lengthy by the process of budgeting. Accordingly, changes to this budget require some time, so from now on, the head of state will have the right to change the budget within the current year.”

Deputies reported on the execution of the national budget for 2021

Also today, deputies reported on the execution of the national budget and replenishment of the social security fund for the past year. The adjusted plan was fulfilled by 101.5%,and expenditures by 97%.

Ludmila Nizhevich, Chairperson of the Standing Committee of the House of Representatives of the National Assembly of Belarus:

The implementation of the 2021 budget is positively influenced by the recovery of economic activity in Belarus, growth of exports and world commodity prices. All this allowed for additional budget revenues of 4.2 billion rubles. Revenues of the national budget for 2021 amounted to Br27.5 billion.

The deputies passed a bill on public-private partnership in the second reading- our country is optimizing a number of procedural issues - it will accelerate the implementation of new joint projects.