logistic centers 20 Why Belarus? Two words SMART PEOPLE. Belarus has - - PowerPoint PPT Presentation
logistic centers 20 Why Belarus? Two words SMART PEOPLE. Belarus has - - PowerPoint PPT Presentation
EU -> Belarus -> Russia, Kazakhstan, Kyrgyzstan, Armenia 10 mln EU customers of Belarus Belarus 180 mln Russia Kazakhstan Armenia Kyrgyzstan customers of EEU Transport and logistics infrastructure Total stretch of roads in use:
EU Belarus Russia Kazakhstan Armenia Kyrgyzstan
EU -> Belarus -> Russia, Kazakhstan, Kyrgyzstan, Armenia
10 mln
customers of Belarus
180mln
customers of EEU
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 55th Turkey 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 122th Kazakhstan Protecting minority investors rank
«Paying Taxes» DB Indicator composition & comparison with Europe & Central Asia Region & OECD
Indicator Republic of Belarus Europe & Central Asia OECD
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 Rank Total Tax Rate (% of profit) Payments (number per year) Time (hours s per per yea ear ) Spain 60 50,0 9,0 158
Belarus 63 51,8 7 176
Austria 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 (8,2 % % of
- f Genera
General l Gov Governm rnment Bala Balanc nce)
VAT
(27,3 % General Government Balance)
- 1. The level of rate of 18% - the lowest among the
countries of the Eurasian Economic Union and the majority of Europe countries
- 1. The
term of refund of “input” VAT accounts 1 month and it is the shortest among the Eurasian Economic Union Countries
- 2. Tax exemption while producing innovative and high-
tech products
- 2. VAT exemption of socially significant products and
services (basic set of products, medicines, children’s goods, medical services)
- 3. Possibility of investment deductions (profit on
development doesn’t liable to tax)
- 3. Full VAT exemption of the imported manufacturing
equipment
- 4. Possibility to transfer losses of past years on future
profits
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
- f 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 level needed, among others, to make timely repayment of Government’s and the National 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 1.5 months
Dynamics of Banks’ Claims and Term Deposits
Main Characteristics of the Belarusian Banking Sector
26 banks (5 banks with 100% foreign capital share) Regulatory capital: Assets: Number of banks: USD32.2 billion 72.7% of GDP USD USD3.9 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: