Base amount or base value (also basic amount, or basic value, or base rate) ( be, базавая велічыня, russian: базовая величина; commonly abbreviated as ''БВ'' or ''б. в.'') is sort of

notional amount The notional amount (or notional principal amount or notional value) on a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument. This amount generally does not change and is thus referred to a ...

used in Belarus to keep amount of

pension A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments ...

scholarship A scholarship is a form of financial aid awarded to students for further education. Generally, scholarships are awarded based on a set of criteria such as academic merit, diversity and inclusion, athletic skill, and financial need. Scholarsh ...

s, social welfare payments, duties, taxes, and

fines Fines may refer to: *Fines, Andalusia, Spanish municipality *Fine (penalty) * Fine, a dated term for a premium on a lease of land, a large sum the tenant pays to commute (lessen) the rent throughout the term *Fines, ore or other products with a sma ...

in the text of laws stable and relevant regardless of the level of

inflation In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reductio ...

. Base amount ( pl, kwota bazowa) is also used in Poland to keep pensions on a stable level, regardless of inflation. A similar measure, income base amount ( sv, inkomstbasbelopp), is used in Sweden.

History

Until 2002, fines, taxes, fees and other payments in Belarus were calculated in multiples up to the

minimum wage A minimum wage is the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Most countries had introduced minimum wage legislation by the end of the 20th century. Bec ...

. In accordance with the Presidential Decree № 3 of 15.02.2002, the minimum wage is used only in labor relations. According to the Resolution of the Council of Ministers of 22.02.2002 № 243 for the calculation of fines, taxes, fees and other payments, a base amount of (about €6.92 at that time) is applied.

Usage examples

* Foreign citizens entering the Republic of Belarus for less than a month of stay should have funds equivalent to at least 2 ''base amounts'' per each day of stay. For stays extending a month, foreign citizens should have funds equivalent to at least 50 ''base amounts''. * The Belarusian Code of Administrative Offences contains no fines in rubles, ''base amount'' is used as unit instead. For individuals, fines have a size of from 0.1 to 500 ''base amounts''. * Victims of the terrorist attack in Minsk have received financial assistance in the amount of up to 1000 ''base amounts''. * The maximum monthly unemployment benefit in Belarus is twice the ''base amount''.

Amount and effective dates

Simplified approximation

As seen above, from 2005 year base amount is set in amount that can be approximated to

€ The euro sign () is the currency sign used for the euro, the official currency of the eurozone and unilaterally adopted by Kosovo and Montenegro. The design was presented to the public by the European Commission on 12 December 1996. It consists o ...

10. For example, if the amount of some fine is 35 base amounts, it can be easily assumed as €350. The

United States Department of State The United States Department of State (DOS), or State Department, is an executive department of the U.S. federal government responsible for the country's foreign policy and relations. Equivalent to the ministry of foreign affairs of other n ...

in its travel information uses an approximation of 2 base amounts to €25, which covers the actual amount on the safe side.

Notes

References