Belarus limits payment in cash to 500 base values per transaction – decree
<p> MINSK, Feb 2 - PrimePress. The size of the payment in cash by an individual to legal entities and individual entrepreneurs in Belarus must not be over 500 base values (14,500 Belarusian rubles, $5,540 at the rate of National Bank of Belarus) per transaction, as per presidential decree No.37 of February 1, 2021 posted on the National Legal Internet Portal on February 2, 2021. At present, the base value amounts to Br29 ($11.07). </p> <p> </p> <p> Previously, the size of cash payment was limited to Br1,000 base values (Br29,000, $11,070). </p> <p> </p> <p> This restriction does not apply to payments made by individuals by depositing cash at cash offices of banks, non-bank financial institutions and payment agents to the bank accounts of legal entities and individual entrepreneurs. </p> <p> </p> <p> Legal entities and individual entrepreneurs are to give individuals an opportunity to pay through the Single Settlement and Information Space in case of regular (more than three times in one calendar quarter) sale of goods, the total value of which per transaction is over 500 base values. </p> <p> </p> <p> These provisions of the decree will come into force three months after the official publication of the decree. </p> <p> </p> <p> The decree also extends until January 1, 2026 the period of exemption from income tax paid by banks to individuals in the amount of up to 2% of the amount of payment when using bank payment cards, remote banking systems, or redeeming electronic money. This section comes into force upon the official publication of the decree. End (Br2.6195/$1) </p>
2021-02-03
Primepress
Belarus limits payment in cash to 500 base values per transaction – decree
MINSK, Feb 2 - PrimePress. The size of the payment in cash by an individual to legal entities and individual entrepreneurs in Belarus must not be over 500 base values (14,500 Belarusian rubles, $5,540 at the rate of National Bank of Belarus) per transaction, as per presidential decree No.37 of February 1, 2021 posted on the National Legal Internet Portal on February 2, 2021. At present, the base value amounts to Br29 ($11.07).
Previously, the size of cash payment was limited to Br1,000 base values (Br29,000, $11,070).
This restriction does not apply to payments made by individuals by depositing cash at cash offices of banks, non-bank financial institutions and payment agents to the bank accounts of legal entities and individual entrepreneurs.
Legal entities and individual entrepreneurs are to give individuals an opportunity to pay through the Single Settlement and Information Space in case of regular (more than three times in one calendar quarter) sale of goods, the total value of which per transaction is over 500 base values.
These provisions of the decree will come into force three months after the official publication of the decree.
The decree also extends until January 1, 2026 the period of exemption from income tax paid by banks to individuals in the amount of up to 2% of the amount of payment when using bank payment cards, remote banking systems, or redeeming electronic money. This section comes into force upon the official publication of the decree. End (Br2.6195/$1)