On September 7, Minsk /Liliya Krapivina - BELTA/. The draft republican budget for 2011 was adopted at the first reading today by the House of Representatives of the National Assembly of Belarus, a BELTA correspondent reports. A characteristic feature of next year's budget is the fact that it takes into account amendments to the Tax Code, which significantly simplifies the tax system, and also reduces the tax burden. "A reduction in the tax burden by 0.4% to GDP and a radical simplification of tax administration will allow more than Br700 billion to remain in the economy," said Finance Minister Andrei Kharkovets. The draft budget is formed based on GDP growth rates in 2011 at 110%, annual inflation is planned at 8%, and the average annual exchange rate of the dollar to the Belarusian ruble will be Br3170. The budget structure shows a significant increase in the social package due to salary increases, pensions, scholarships, and other social guarantees for society. Consolidated budget revenues in 2011 will reach Br54.5 trillion, which will be 118% of the 2010 estimate. Revenues under the draft republican budget in 2011 are projected at Br33.6 trillion, or 116.9% of the expected execution for 2010. As Andrei Kharkovets noted, the revenue structure will remain the same next year. The main sources of tax revenues for the consolidated budget are: VAT - 35.1%, taxes from foreign economic activities - 13.3%, taxes on income and profits - 12.8%, personal income tax - 10.1%, excise taxes - 9.8%. In 2011, budget revenues from import customs duties will increase, the Finance Minister noted. Belarus joined the Customs Union, and now import customs duties from incoming products are "credited to a common pot and distributed among the budgets of the three countries." Belarus's share here is 4.7%. Revenues from import customs duties will depend not only on the volume of Belarusian imports but also on the volume of goods imported into the territory of Russia and Kazakhstan.-0-

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