Taxes - Accounting

Belarus

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Tax Rates | Accounting Rules

Tax Rates

Consumption taxes

Nature of the tax: Value-added tax (VAT)
Tax rate: 20%
Reduced tax rate: 10% regarding supply of certain foodstuffs and agricultural products, services of repairs, hairdressing and laundries. Banking and financial services, insurance and educational services and legal services supplied to individuals are exempted from VAT.
Other consumption taxes: No other tax.

Corporate taxes

Tax rate

Income tax	The standard rate is 18%
Income tax for bank and insurance companies.	30%
Income tax for companies with foreign participation of more than 30% of the capital	0% during the first three years of activity.

Capital gains taxation: There is no capital tax.
Main allowable deductions and tax credit: Companies having at least 30% of foreign capital are exempted from tax during the first three years.
Other corporate taxes: Profit tax (15%), Real property tax, social security contributions, environmental tax.

Individual taxes

Tax rate

Income tax

12%

Allowable deductions and tax credit: Certain professions enjoy deductions. Also, families with children have tax deductions.
Special expatriate tax regime: Non-residents (who spend less than 183 days annually in the country) are taxed at the same rate as nationals, but only on their belorussian revenues.

Double taxation treaties

Countries with whom a double taxation treaty have been signed: List of countries having a double taxation agreement with Belarus
Withholding taxes: Dividends: 12%, Interest: 10%, Royalties: 15%
Bilateral agreement: Belarus and Tunisia are bound by a double taxation treaty: no

Signed	Ratified	Enforced

Pour aller plus loin dans vos recherches nous vous proposons de connaître les taxes locales connaître les taxes locales qui s'appliquent à votre produit.

Sources of fiscal information

Tax Authorities: Ministry of Tax collection; Fiscal policy
Other domestic resources: http://www.deloitte.com/view/en_GX/global/services/tax/cross-border-tax/international-tax/taxation-and-investment-guides/index.htm
">Deloitte Tax Guide to Belarus
The official web portal of the President of Belarus

Accounting Rules

Tax year

The fiscal year begins on January 1st and ends on December 31 of the same year.

Accounting standards

Business accounting in Belarus is regulated by the Law “On Business Accounting and Book-Keeping”. The organization responsible is the Ministry of Finance. The norms are progressively being adapted to international norms. For more information, see the website of the National Investment Agency of The Republic of Belarus.

Accounting regulation bodies

Ministry of Finance

Accounting reports

Enterprises must formulate an annual financial statement, consisting of a balance sheet, an income statement, a statement of changes in shareholder equity, and a cash flow statement.

Publication requirements

Financial records must be sent to the tax authorities no later than April 1 of the year following the closure of accounts.

Professional accountancy bodies

Audit and accounting agency

Certification and auditing

The controls of audit are compulsory for companies listed on the stock exchange, joint-venture companies and foreign companies.
The following companies are subject to compulsory audit:
-joint venture companies
-banks, insurance companies, offices representing foreign companies and foreign companies themselves
-listed companies
-companies whose annual revenue exceeds 600,000 EUR

You can contact an external auditor: Deloitte, Ernst & Young, KPMG.

Accounting news

National Investment Agency of The Republic of Belarus