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IE to PUE

The Deputy Minister of Economy of Belarus Andrey TurOnly 169 individual entrepreneurs from more than 200 thousand have passed through re-registration procedure into the private unitary enterprises (PUE). Such information was given by the deputy minister of economy of Belarus Andrey Tur at press conference on September, 26. "NO! to decree 760!"

Individual Entrepreneurs have only one and a half month (till November, 10) to change their status. If it does not occur after the named date the process of transformation IE into the legal person will occur not under the simplified scheme, but in accordance to general practice. For those who will not want to leave status IE, since January, 1st, 2008, according to decree requirements № 760, is able to employ workers only from the members of their family.

The deputy minister of economy has noticed, that "nobody is going to destroy individual entrepreneurs as a class". Norms of decrees 760 and 302, according to the deputy minister, operate within the limits of state policy strategy in small business development. "Individual entrepreneurs should develop to become more powerfully. It is impossible to be all time in small or short panties".

The deputy director of Department for Entrepreneurship of Ministry of Economics Evgenie Semenov has noticed, that preparation of all documents for transformation IE into PUE occupies only 10-12 days. Thus the official has agreed that the taxation for PUE will be a little higher than for IE.