Belarus | Decrease in forex proceeds subject to mandatory sale

As from October 01, 2017, the Resolution of the Belarus National Bank No. 368-1 dd. 06.09.2017 “On Amendments to the Resolution of the National Bank of the Republic of Belarus No. 129 dd. 13.09.2006 September” (hereinafter – “Resolution No. 368-1”) comes into effect. The mentioned Resolution amends the Instruction on the procedure for forex proceeds mandatory sale, approved by the Resolution of the Belarus National Bank dd.13.09.2016 No. 129.

According to the Resolution No. 368-1, starting from October 01, 2017, the amount of forex proceeds derived by legal entities and individual entrepreneurs from export of goods, works, services, property rights that is subject to mandatory sale in Belarus, is reduced from 20% to 10%.

In Belarus, the most recent decrease in forex proceeds subject to mandatory sale from 30% to 20%, occurred on September 1, 2016.

We hope you find our newsletter useful. Should you have any questions or require our assistance with respect to the above, please contact our expert:

Sergey Odintsov
Head of Tax Department, Minsk
+375 (17) 290 25 57
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