FLAT TAX IN BELARUS

Belarus is another Eastern European economy joining the flat tax club. The Ministry of Finance has proposed the shift from progressive tax system (with 35 percent top tax rate) to 12 percent flat tax rate. Recently, Financial Times discussed (link) the state of Belarussian economy, focusing essentially on liberalization prospects, tax reform and regulatory reform. According to WB's Doing Business, Belarus's business climate is more favorable after liberalization efforts were endorsed (link).