Belarus to exchange tax data on legal entities with CIS countries - commentary
<p> MINSK, Aug 28 - PrimePress. Belarus will practice tax data exchange with the CIS countries with regard to certain tax data on legal entities, as well as data on certain types of property and its owners. This is provided by a law adopted on August 18, 2020, by which Belarus joined the protocol on electronic exchange of information between CIS countries for tax administration. Baker Tilly Bell’s lawyers have highlighted some details of the law. </p> <p> </p> <p> The purpose of the exchange is control over compliance with tax legislation, enforcement, as well as administrative and judicial proceedings. </p> <p> </p> <p> In particular, in relation to legal entities, the state will transfer and receive information affecting the income of a legal entity of one exchange participant state, which is taxed at source in another exchange participant state: </p> <p> </p> <p> - dividends; </p> <p> - income from debt obligations; </p> <p> - royalties, including income from the use and/or grant of the right to use intellectual property; </p> <p> - income from the lease of property; </p> <p> - income from the alienation of securities, except for shares; </p> <p> - income from the alienation of shares, stakes and units; </p> <p> - income from alienation of movable and immovable property; </p> <p> - other income. </p> <p> </p> <p> In addition, CIS states will share data on certain types of property and its owners, on certain types of property registered (located) in the territory of one exchange participant state, and on its owners who are legal entities or citizens of other exchange participant states. </p> <p> </p> <p> According to the law, certain information relating to individuals, in particular, affecting income from employment, remuneration under civil contracts, dividends, income from securities transactions, income from the alienation of shares in the charter fund (capital) of a legal entity will also be transmitted. </p> <p> </p> <p> The protocol provides for automatic data exchange; it will be carried out annually. End </p>
2020-08-29
Primepress
Belarus to exchange tax data on legal entities with CIS countries - commentary
MINSK, Aug 28 - PrimePress. Belarus will practice tax data exchange with the CIS countries with regard to certain tax data on legal entities, as well as data on certain types of property and its owners. This is provided by a law adopted on August 18, 2020, by which Belarus joined the protocol on electronic exchange of information between CIS countries for tax administration. Baker Tilly Bell’s lawyers have highlighted some details of the law.
The purpose of the exchange is control over compliance with tax legislation, enforcement, as well as administrative and judicial proceedings.
In particular, in relation to legal entities, the state will transfer and receive information affecting the income of a legal entity of one exchange participant state, which is taxed at source in another exchange participant state:
- dividends;
- income from debt obligations;
- royalties, including income from the use and/or grant of the right to use intellectual property;
- income from the lease of property;
- income from the alienation of securities, except for shares;
- income from the alienation of shares, stakes and units;
- income from alienation of movable and immovable property;
- other income.
In addition, CIS states will share data on certain types of property and its owners, on certain types of property registered (located) in the territory of one exchange participant state, and on its owners who are legal entities or citizens of other exchange participant states.
According to the law, certain information relating to individuals, in particular, affecting income from employment, remuneration under civil contracts, dividends, income from securities transactions, income from the alienation of shares in the charter fund (capital) of a legal entity will also be transmitted.
The protocol provides for automatic data exchange; it will be carried out annually. End