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Paying Taxes

1.

20% investment tax rebate for machinery and transport for the first year subsequent to recognition of such kinds of property has been introduced.

2.

Quantity of eсo tax objects of taxation has been reduced.

3.

The possibility to deduct environmental sciences expenses with coefficient 1,5 for tax on profit purposes has been granted.

Reform influence:  Tax burden and time expenses of taxpayers reduced

Entered into force:  1 January 2014

Legislation:

Law of the Republic of Belarus No. 96-З of 31 December 2013.

4*. 

1. The procedure of VAT base calculation has been simplified. Since 2013 the operating revenue in book-keeping and fiscal accounting (VAT, profit tax) has been calculated according to accrual basis of accounting.

2. Taxpayers have been released from obligation to provide tax authorities with documents proving their title to the tax reliefs.

3. For better defining of profit tax base and fiscal accounting have been drawn close to one another.

Reform influence: 

Time expenses of taxpayers for tax assessment are reduced.

Entered into force:  1 January 2012, 1 January 2013

Legislation:

Law of the Republic of Belarus No. 330-З of 30 December 2011.

Law of the Republic of Belarus No. 431-З of 26 October 2012.

5*.

The companies with more than 50 employees must submit their state social insurance payments only electronically.

Reform influence: 

Due to the introduction ofe-reporting on the financial accounts the number of payments has been reduced.

Entered into force:  21 February 2012

Legislation: 

Resolution of the National Statistical Committee of the Republic of Belarus No.1 of 2 January 2012