27 March, Vitebsk /Diana Kurilo - BELTA/. As a result of the tax burden reduction in 2012, business entities of the Vitebsk region will be able to direct over Br200 billion to production development, the economy committee of the Vitebsk Regional Executive Committee informed a BELTA correspondent. As a result of the improvement of tax administration, the gross revenue thresholds for small and medium-sized businesses, expanding the possibilities of applying the simplified taxation system, have increased from Br3.1 billion to Br12 billion. The profit tax rate has been reduced from 24% to 18%, a mechanism for carrying forward losses of previous years to the current year's profit has been implemented, the mechanism of direct profit subsidization has been replaced by financing capital investments through accelerated depreciation of fixed assets, and an electronic declaration system has been introduced. As a result of these changes, business entities will be able to direct over Br200 billion to production development, create new jobs, which will provide additional tax deductions to the budget.-0-

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