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    RUSSIA PLANS TO LEVY VAT IN A DIFFERENT WAY IN RELATIONS WITH BELARUS

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    MOSCOW, April 7 (RIA Novosti) - From January 1, 2005, Russia plans, in its relations with Belarus, to transfer to the principle of levying the value-added tax (VAT) by country of destination.

    An informed source in the government told RIA Novosti that such proposals are in the documents for the government session, due to consider tax reform measures for 2004-2005.

    "Belarus is the only CIS country with which Russia has not yet transferred to the principle of levying the VAT by country of destination," said the source.

    "The finance ministry conducted relevant talks with the Belarussian side and reached agreement on the transition to the new system at the level of experts," said the source.

    According to the source, if the Russian government approves these proposals, a working group will be established that will determine in detail the order of monitoring and administering the procedure of VAT levying. Besides, the list of withdrawals will be coordinated in connection with the transition to the new system.

    In the finance ministry's estimate, the introduction of the new system will not lead to losses of federal budget revenues.

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