Belarus Tax: Exemption of withholding tax interest income derived by nonresident companies

The President has signed an edict that exempts from withholding tax interest income derived by nonresident companies that do not have a permanent establishment in Belarus where the interest is paid by the Republic of Belarus and its government, including interest on state securities issued in foreign markets, or Belarus companies on loans guaranteed by the government. The exemption is effective retroactively as from 1 January 2010.