Belarus Income Tax Rate

Belarus individual income tax rate for 2010 is a flat 12%.

Income in the form of dividends, income from business and private notary activities are taxed at 15% in Belarus. Income received from High Technologies Park residents under labour agreements, income of individual entrepreneurs who are residents at the High Technologies Park are taxed at 9%.

Belarus individuals are taxed on their worldwide income. Nonresidents are taxed only on Belarus source income. An individual is resident in Belarus if he / she is physically present in the country for more than 183 days in a calendar year. Taxable income in Belarus is all income regardless of source, including property, services or other benefits in-kind and income to which the taxpayer has the right of disposal, less allowable deductions and exemptions.

Tax Year: Tax year in Belarus is the calendar year.

Standard Tax Deductions: In determining the size of the tax base, the tax payer in Belarus has the right to receive the following standard tax deductions:

- A monthly tax deduction of BYR 250,000 when monthly amount of income doesn't exceed BYR 1,500,000.
- A monthly tax deduction of BYR 70,000 for each child up to 18 years old and (or) each dependant. For parents with 3 or more children under 18 years old, or disabled children under 18 years old, the standard tax deduction is BYR 140,000 per month.
- A monthly tax deduction of BYR 350,000 in the following categories of taxpayers:
   . Person sick and suffering from radiation sickness from the Chernobyl accident, and those who took part in the accident
   . Veterans of various wars
   . Disabled person in groups I and II of all types of disabilities.



Basis - Individuals are taxed on their worldwide income. Nonresidents are taxed only on Belarus-source income.

Residence - An individual is resident in Belarus if he/she is physically present in the country for more than 183 days in a calendar year.

Filing status - Joint returns may not be filed; each taxpayer must file a separate return.

Taxable income - Taxable income includes all income regardless of source, such as income from employment, income from property, services or other benefits in-kind and income to which the taxpayer has the right of disposal, less allowable deductions and exemptions.

Capital gains - Capital gains are taxed as ordinary income.

Tax Deductions and allowances - Standard tax deductions are granted for the taxpayer, his/her spouse and minor children. In addition to standard tax deductions, there are social, property and professional tax deductions, which are granted to taxpayers only upon the submission of their tax returns at the end of the tax period.

Tax Rates - A flat rate of 12% applies, with a 9% rate applying to labour income received from residents of high-technology parks.


Other taxes on individuals:

Capital duty - No

Stamp duty - No

Capital acquisitions tax - No

Real property tax - The owner of real property is subject to an annual real estate tax at a rate of 0.1% of the value of the
property.

Inheritance/estate tax - No

Net wealth/net worth tax - No

Social security - 1% of an employee's wages is withheld by the employer for the benefit of the Social Security Fund. The self-employed are also required to contribute.




 

Belarus Corporate Tax Rate

Belarus corporate tax rate for 2010 is 24%.

A company is considered a tax resident if it is registered as a legal entity in Belarus. Residents are taxed on worldwide income. Foreign-source income derived by residents is subject to corporate tax in the same way as Belarusian-source income. Nonresidents are taxed only on Belarus source income.



Tax Incentives for Investment in Belarus

- 6 FEZ. A company has to invest at least EUR 1 million. Certain taxes at reduced rates; profit from own production are exempted from Belarus profit tax for 5 years.
- High Technology Park. Residents - exempted from almost all of taxes and duties.
- Beneficial tax regime if a business is operating in rural areas and small town centers.
- Simplified Taxation System. Companies that meet certain requirements on number of personnel and amount of gross revenues may pay a unified tax imposed on gross revenues. Tax rates are: 6%, 8% or 15%.



Residence - A company is considered a tax resident if it is registered as a legal entity in Belarus.

Basis - Residents are taxed on worldwide income. Foreign-source income derived by residents is subject to corporate tax in the same way as Belarusian-source income.

Nonresidents are taxed only on Belarus source income.

Taxable income - Profits tax is levied on taxable profits, which are total profits from the sale of products, goods, services and other assets (including fixed assets, commodity stocks, intangibles and securities), and interest and income from non-sales operations, less expenses incurred in connection with these operations.

Taxation of dividends - Dividends received by a Belarus-resident company from another Belarus company or from a nonresident company are subject to profits tax.

Capital gains - No separate capital gains tax is imposed. Gains derived from the sale of property are taxable under the general profits tax rules. Foreign companies not operating through a permanent establishment are subject to withholding tax on income derived from the sale of shares, bonds and other securities, income from the sale of real estate situated in Belarus and certain other transactions.

Losses - Losses may not be carried forward or back; they must be recognized in full in the year in which they are incurred.

Tax Rate - The corporate profits tax rate is 24%. Additionally, local taxes are imposed at the rate of 3%, so the aggregate rate of profits tax is approximately 26.28%. The rate on dividends received by Belarus-resident companies is 12%.

Surtax - No

Alternative minimum tax - No

Foreign tax credit - Tax withheld in a foreign country from income derived by Belarusian residents may be credited against Belarusian tax on the same income provided the foreign tax authorities confirm the payment. The credit is limited to the amount of Belarusian tax payable on such income.

Participation exemption - No

Holding company regime - No

Tax Incentives - Taxable profits may be reduced by the following: amounts expended on capital investment used for production purposes and for housing construction, including the repayment of bank loans obtained and used for these purposes, provided the accrued amortisation allowance has been fully utilised; and amounts donated to enterprises, institutions and other organisations involved in public health or education, social welfare, culture and sports, which are registered with and funded by the state, up to a maximum of 5% of taxable profits. Enterprises that employ disabled persons totalling more than 50% of the total workforce are exempt from profits tax.


Withholding tax:

Dividends - Dividends paid to a nonresident company from Belarusian sources are subject to a 12% withholding tax unless the rate is reduced under a tax treaty.

Interest - Interest paid to a nonresident company is subject to a 10% withholding tax unless the rate is reduced under a tax treaty.

Royalties - Royalties paid to a nonresident company are subject to a 15% withholding tax unless the rate is reduced under a tax treaty.

Branch remittance tax - No


Other taxes on corporations:

Capital duty - No

Payroll tax - No

Real property tax - Tax is imposed on the value of buildings and construction owned or in the possession of a taxpayer at a rate of 1% of the depreciated value of the building or construction. The real estate tax is deductible in computing profits tax liability.

Social security - Both employers and employees contribute to the Social Security Fund, which provides coverage for pensions, disability, dependents, illness and maternity benefits. The rates differ depending on the type of employer and range from 1% to 34%, with the most common rate being 34%.

Stamp duty - No

Transfer tax - No

Other -Legal entities are subject to an environmental tax.



 

Belarus Value Added Tax (VAT) Rates

Standard rate of Value Added Tax in Belarus is 20%. (up from 18% since 01 Jan 2022)

Value-added tax (VAT) applies to most transactions in Belarus at the standard rate of 20%. A lower rate of 10% applies to supplies of certain foodstuffs and agricultural products; and services of repairs, hairdressing and laundries. Exemptions from VAT include banking and financial services, insurance, educational services and legal services supplied to individuals. The export of goods and related services including the loading, shipment and transshipment of exports are subject to 0% tax. Registration for Value-added tax is compulsory for businesses.

Taxable transactions - VAT is levied on the supply of most goods and services in Belarus, and on most imports into Belarus.

Rates - The standard VAT rate is 20%, with a reduced rate of 10%. The export of goods and related services, including the loading, shipment and trans-shipment of exports are subject to a 0% VAT.

Registration - There is no special registration for VAT purposes. A taxpayer registers for the purpose of all taxes and duties.

Filing and payment - A VAT return is due by the 20th day of the following month or by the 20th day of the month following the reporting quarter. The tax is calculated based on the amount of tax accumulated from the beginning of the year. Advance payments are required if VAT accrued and paid for the last reporting month exceeds EUR 40,000.

Belarus Tax Rates

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Last Update:  Nov 2010

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