Belarus to introduce single income tax rate

Belarus's finance ministry has proposed to introduce a single fixed income tax rate of 12 percent by the end of 2008. This is 1 percent less than in neighboring Russia. The proposal makes sense for those who make from Br1.5 million, because they will have to pay less in tax payments, writes Komsomolskaya Pravda v Belarusi newspaper.

Currently, the income tax base in Belarus varies from 9 to 30 percent depending on the income.It means that richer citizens pay more to the government in taxes.