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Amendments in the Republic of Belarus legislation
05.11.2015
The procedure for calculating income tax is determined by Chapter 16 of the Tax Code of the Republic of Belarus (hereinafter - the Tax Code)
1. Since 2019, has not been subject to income tax, that is, the cost of donated goods (works, services), property rights, including costs of their free transfer (paragraph 1 of Article 168 of the Tax Code) are not included into revenues.
2. The date of revenue recognition for tax purposes is the same as recognition in accounting records. When recognizing it, one should take into account the regulations of the resolution of the Ministry of Finance of the Republic of Belarus of 08.08.2018 No. 55 'On the date of individual business operations'.
3. The date on which revenue is recognized under contracts in which the amount of obligations is expressed in Belarusian rubles equivalent to the amount in foreign currency, revenue is considered expressed in Belarusian rubles from the date the amount payable in Belarusian rubles is determined in accordance with the law or by agreement of the parties and is not subsequently restated (paragraph 7 of Article 168 of the Tax Code).
4. When selling goods at retail prices in retail and (or) catering, the date of recognizing of revenue is determined in accordance with paragraph 3 of Article 121 of the Tax Code, according to which when selling goods at retail prices in retail network and (or) catering using cash registers, carried out during a shift beginning on one calendar day and ending on another calendar day, the date of shipment of goods sold on another calendar day is the opening date of this shift, recognized in single daily (shift) report (Z-report) being generated by such cash equipment.
5. The date of transfer of property rights is recognized the day determined in accordance with paragraph 8 of Article 121 of the Tax Code.
In accordance with paragraph 8 of Article 121 of the Tax Code, the day of transfer of property rights at the choice of the payer, the following shall be recognized:
6. In 2019, for the purposes of taxation, additional types of standardized costs were introduced by the Tax Code (paragraph 1 of Article 169 of the Tax Code). The list of standardized costs is defined in Article 171 of the Tax Code.
The standardized costs include the following types of costs:
Other costs include:
The aggregate amount of other expenses taken into account during taxation shall not exceed one (1) percent of the revenues from the sale of goods (works, services), property rights and rental income recognized in non-operating incomes in accordance with subparagraph 3.18 of paragraph 3 of Article 174 of the Tax Code, including value added tax.
7. The interest rate of investment deduction has changed for buildings, structures and transmission devices used in entrepreneurial activity, and the cost of investments in their reconstruction, as well as for cars and equipment used in entrepreneurial activity, and the cost of investments in their reconstruction, for vehicles (except for cars ) (Subparagraph 2.2 of Article 170 of the Tax Code).
8. Additional costs included in non-operating expenses (subparagraph 3.48 of paragraph 3 of Article 175 of the Tax Code) are provided for. Non-operating expenses include reserves for doubtful debts created based on the results of the inventory of receivables not paid off by the last date of the reporting (tax) period arising from the sale of goods (works, services), property rights, intangible assets, but no more than five (5) percent of the revenues from the sale of goods (works, services), property rights, intangible assets, including value added tax, and calculated as follows:
Applying these statutory regulations, the following should be considered.
Non-operating incomes include incomes in the form of a reduction or cancellation of allocations to reserves, expenses for the formation of which were recognized in the previous reporting periods as non-operating expenses or in expenses that are taken into account in taxation (subparagraph 3.22 of paragraph 3 of Article 174 of the Tax Code).
9. The profit tax rate for dividends in the event that during the previous three calendar years profit has not been distributed among the participants (shareholders) of the Belarusian organization – residents of the Republic of Belarus, is set in the amount of six (6) percent.
The profit tax rate for dividends, in the event that during the previous successive five calendar years profit has not been distributed among the participants (shareholders) of the Belarusian organization – residents of the Republic of Belarus, is set in the amount of zero (0) percent (Article 184 of the Tax Code).
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pr. Pobediteley, 89/3, office 401 220020 Minsk, Republic of Belarus Tel .: +375 17 396 42 44 Fax: +375 17 396 33 39
VEDAudit@bk.ru
Managing Partner in CIS
Alexey Filonov
Audit services
Alexander Khimchenko
Taxation and legal services
Lydia Tsybina
Accounting services
Zoya Prokhorchik