An expert has blasted Aliaksandr Lukashenka's October 23 edict that orders the creation of a register of economic entities and sole entrepreneurs that “run a heightened risk of committing illegalities in the economic sphere.”
While the edict is formally aimed at combating dummy firms used for money laundering, it may affect many conscientious businesses, Siarhey Balykin, leader of the Association of Small and Medium-Sized Businesses, said.
In particular, the tax authorities will not be required to obtain permission from a court for including a business in the register.
“This will create big difficulties both for businesses that have suspended their activity and for their partners,” Balykin said.
“The criteria for placing businesses on the register are very subjective and make it possible to interpret their activity arbitrarily at the discretion of the tax authorities,” the expert stressed.
He warned that businesses would face sanctions for concluding deals with entities placed on the register.
The edict de facto allows authorities to declare transactions invalid in an extrajudicial procedure, which runs counter to laws and the constitution, according to Balykin.
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