Large taxpayers need a break

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April 22, 2016 18:44

A presidential decree enabled alcohol producers to pay excise duties upon receiving payment for the sold products, which implies that large taxpayers had problems with making payments to the budget.

The decree also aims to prevent the taxpayers from not being able to pay taxes due to insolvency. This solution will stabilize the financial position of companies in the industry, will reduce their demand for loans to pay excise duty to the budget, and will reduce their expenses on loans.

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According to Belstat, in August 7,600 people were dismissed, including 4,800 civil servants. Dismissals of civil servants were due to the optimisation in the public administration by up to 30%. Some civil servants would retain their job however would lose the status of a civil servant. Vacancies on the labour market are likely to reduce in number, thanks to the optimisation, the state administration would increase wages for public servants. The payroll fund for retained employees is likely to increase and some former state employees are likely to get jobs in affiliated organizations. The optimisation of the state apparatus should complete by January 1st, 2018, and some former civil servants are likely to join the ranks of the unemployed.