The international financial reporting standards (IFRS) and international accounting standards (IAS) are now in effect in Belarus. The step is stipulated by the joint resolution issued by the Council of Ministers of Belarus and the National Bank of the Republic of Belarus on December 30, 2016. In line with resolution No. 1119/35 a number of…
Bringing order at the customs provided the receipt of an additional 18 billion UAH to the national budget of Ukraine in 2016, including a record high overfulfillment in December 2016 for 4 billion UAH, Prime Minister Volodymyr Groysman has said. “Solution of one of the problems last year was bringing order at the customs. Our…
The Uzbek government set new tax rates for property owned by individuals on January1, 2017 under the Presidential Decree ‘On forecasts for major macroeconomic indicators and parameters for state budget of the Republic of Uzbekistan for 2017′. The property tax (residential houses, flats, countryside houses, garages, and other premises) rose from 1.5% to 1.7%, except…
Since January 1, the basic rate of excise duty on tobacco products increases. Kyrgyz President signed the law on March 10, 2015. According to the document, the basic rates of excise duty in Kyrgyzstan will be gradually equalized with the rates in other countries of the Eurasian Economic Union. The law also aims at reducing…
Kumtor got all necessary permits and approvals for its 2017 mine plan, Centerra Gold Inc. reported. As noted, the approvals and permits are valid for the full year. Kumtor has received the industrial safety and subsoil expertise (approval) from the Kyrgyz Republic State Committee for Industry, Energy and Subsoil Use for its special mine plan,…
Georgia’s real GDP expanded by 2% in November 2016, after a 1.3% growth in October, according to the preliminary data released by the State Statistics Office. Economy grew by 2.4% in the first eleven months of 2016, according to Geostat’s preliminary data. The 2016 economic growth forecast was reduced from 3% to 2.7% as a…
As of December 1, 2016 Belarus’ external state debt totaled $13.5 billion, up by $1.071 billion or by 8.6% since the beginning of the year (taking into account differences in currency exchange rates), representatives of the Belarusian Finance Ministry reportged. In January-November 2016 the external state borrowings totaled $1.76 billion, including $800 million borrowed from…