OREANDA-NEWS. Belarus does not plan to raise the existing rate of the value added tax in 2015, Belarusian Prime Minister Mikhail Myasnikovich said in his address to the parliament.

Belarus' VAT currently stands at 20%.

"The documents submitted to the head of state and the parliament contain no suggestions to increase the VAT, as no agreement has been reached on this matter," Myasnikovich said as quoted by the state-owned news agency Belta.

In his words, by increasing the VAT rate, Belarus would improve the balance of payments, protect its domestic market from imports and provide additional support for exporters.

The suggestion to raise the VAT was coupled with the proposal to reduce the profit tax from 18% to 15%, Myasnikovich said. He believes this would create a favourable environment for exporters.