Tax Code of Belarus 2021: major changes
The Law of the Republic of Belarus No. 72-Z dd. 29.12.2020 introduced the changes to the Tax Code of Belarus. Major changes have already entered into force in January 2021, some a due from 01.03.2021 and 01.01.2022.
How will they affect your business?
The introduced changes will allow minimizing tax burden, for example, it will be possible to include the amounts of exchange rate differences into non-operating income, the amounts of investment deduction to expenses for CIT purposes. However, for some companies (residents of the High-Tech Park, of the Chinese-Belarusian Industrial Park “Great Stone”, commercial micro financial organizations, mobile telecom operators, companies that provide medical services or sell medicines or medical products), tax rates will increase.
Below you can get the more detailed overview of these and other the most significant changes to the Tax Code of Belarus.