Country News

Important amendments were made to the tax legislation of the Republic of Belarus concerning the alienation of shares in the authorized capital of companies.

Belarus has approved the list of 1,849 companies registered in the country, which are affected by restrictions on corporate and other rights of the participants.

A gratuitous contribution to a company's property is no longer considered a transaction subject to Belarusian corporate income tax, but is treated as an increase in the company's share and charter capital.

Law No. 99-Z dated 07.05.2021 “On Personal Data Protection” has been adopted in Belarus, which will significantly change the issues of personal data processing, enshrine new rights and obligations, mechanisms for protecting the rights of personal data subjects from 15.11.2021.

Currently, more and more European air companies terminate their flights over and to Belarus. Moreover, the air of Austria, Belgium, Czech Republic, Finland, Germany, Greece, Great Britain, Hungary, Italy, Latvia, Lithuania, Netherlands, Poland, Spain, Sweden, Ukraine and other countries is closed for the national carrier, air company “Belavia”.