With Russia, Belarus, and Kazakhstan all planning to ratify the agreement necessary for the implementation of the general principles of indirect taxes, a supranational tax committee will be formed. This was reported by the press service for the government of the Russian Federation on their Telegram channel.
It is set to fix the minimum rates of tax on businesses, keeping the same benefits and exemptions. The countries will create an integrated system for administering indirect taxes in order to lessen and shift the burden.
Russia’s Prime Minister Mikhail Mishustin noted that such measures will help to create a single information space for expanding interaction and mutual assistance in countering fiscal evasion. The measures include cross-border trade.
Thanks to the ratification of the treaty, certain barriers have been removed and it is easier for countries to launch new projects and attract investment.
Sergei Shoigu, the head of the Russian Ministry of Defense thanked Alexander Lukashenko, the President of Belarus for his attitude towards the Russian military.