Belarus’ exempts income from deposited savings for housing construction from taxes – decree
<p> MINSK, Oct 26 - PrimePress. Incomes from bank deposits of individuals who participate in the housing construction savings program will be exempt from taxes, as per presidential decree No.382 ‘On the State System of Housing Construction Savings’ of October 26, 2020, the presidential press office reports. </p> <p> </p> <p> This applies to the savings in deposits in special bank accounts to obtain funds short of the amount required for housing improvement in the form of targeted loans at interest below market rates. </p> <p> </p> <p> According to the decree, individuals will receive a bonus from the state, which is exempt from income tax. The minimum required amount of savings for obtaining a loan is set at or above 30% of the contracted amount. </p> <p> </p> <p> The decree also establishes that the interest for using a home loan must not be over the interest on the deposits by more than 3 percentage points. </p> <p> </p> <p> Banks involved in the housing construction savings program will coordinate with the Ministry of Architecture and Construction local legal acts on activities related to the program. </p> <p> </p> <p> The decree has not been officially published yet. End </p>
2020-10-28
Primepress
Belarus’ exempts income from deposited savings for housing construction from taxes – decree
MINSK, Oct 26 - PrimePress. Incomes from bank deposits of individuals who participate in the housing construction savings program will be exempt from taxes, as per presidential decree No.382 ‘On the State System of Housing Construction Savings’ of October 26, 2020, the presidential press office reports.
This applies to the savings in deposits in special bank accounts to obtain funds short of the amount required for housing improvement in the form of targeted loans at interest below market rates.
According to the decree, individuals will receive a bonus from the state, which is exempt from income tax. The minimum required amount of savings for obtaining a loan is set at or above 30% of the contracted amount.
The decree also establishes that the interest for using a home loan must not be over the interest on the deposits by more than 3 percentage points.
Banks involved in the housing construction savings program will coordinate with the Ministry of Architecture and Construction local legal acts on activities related to the program.
The decree has not been officially published yet. End