Bill on taxation passes first reading at lower chamber of Belarus’ parliament
<p> MINSK, Dec 14 - PrimePress. The House of Representatives of the National Assembly of Belarus has passed in the first reading a bill on taxation which introduces significant changes to the operating conditions for individual entrepreneurs and small businesses. </p> <p> </p> <p> The fact that the bill passed its first reading is reported on the website of the House of Representatives. </p> <p> </p> <p> For entrepreneurs providing services, the possibility of applying the simplified taxation system will be abolished from 2022. According to the bill posted on the website of the Ministry of Finance, an exception is made for the following activities: tourism, healthcare, overland transport, catering services, and computer programming. Entrepreneurs providing these types of services will be able to apply the simplified taxation system. The tax rate will increase to 6% from 5% in 2022. </p> <p> </p> <p> Other entrepreneurs providing services, such as legal or accounting services, must switch to the general taxation system, which provides for paying the income tax, which currently stands at 16%. The bill allows local authorities to increase it by 2 p.p. more. Thus, the tax for individual entrepreneurs providing services could be 18% from 2022. </p> <p> </p> <p> It is envisaged to completely abolish the simplified taxation system for individual entrepreneurs providing services from 2023. </p> <p> </p> <p> The possibility of applying the tax regime - simplified taxation system with value added tax - will be abolished from 2022. </p> <p> </p> <p> The bill also provides for an increase in the single tax rates for individual entrepreneurs and self-employed businessmen by 2.3-4 times, expanding the list of activities subject to the single tax for self-employed businessmen, and introducing a new taxation system “tax on professional income” for individuals from 1 January 2023. </p> <p> </p> <p> Among other tax innovations is the obligation for foreign organisations and entrepreneurs to pay VAT when selling goods electronically in Belarus from 1 July 2022. </p> <p> </p> <p> A real estate tax is being introduced for flat owners (previously only owners of more than one flat had to pay it). </p> <p> </p> <p> The bill also introduces excise duties on e-juice for electronic smoking systems and non-tobacco nicotine-containing products, and raising excise rates on beer and tobacco products. End </p>
2021-12-15
Primepress
Bill on taxation passes first reading at lower chamber of Belarus’ parliament
MINSK, Dec 14 - PrimePress. The House of Representatives of the National Assembly of Belarus has passed in the first reading a bill on taxation which introduces significant changes to the operating conditions for individual entrepreneurs and small businesses.
The fact that the bill passed its first reading is reported on the website of the House of Representatives.
For entrepreneurs providing services, the possibility of applying the simplified taxation system will be abolished from 2022. According to the bill posted on the website of the Ministry of Finance, an exception is made for the following activities: tourism, healthcare, overland transport, catering services, and computer programming. Entrepreneurs providing these types of services will be able to apply the simplified taxation system. The tax rate will increase to 6% from 5% in 2022.
Other entrepreneurs providing services, such as legal or accounting services, must switch to the general taxation system, which provides for paying the income tax, which currently stands at 16%. The bill allows local authorities to increase it by 2 p.p. more. Thus, the tax for individual entrepreneurs providing services could be 18% from 2022.
It is envisaged to completely abolish the simplified taxation system for individual entrepreneurs providing services from 2023.
The possibility of applying the tax regime - simplified taxation system with value added tax - will be abolished from 2022.
The bill also provides for an increase in the single tax rates for individual entrepreneurs and self-employed businessmen by 2.3-4 times, expanding the list of activities subject to the single tax for self-employed businessmen, and introducing a new taxation system “tax on professional income” for individuals from 1 January 2023.
Among other tax innovations is the obligation for foreign organisations and entrepreneurs to pay VAT when selling goods electronically in Belarus from 1 July 2022.
A real estate tax is being introduced for flat owners (previously only owners of more than one flat had to pay it).
The bill also introduces excise duties on e-juice for electronic smoking systems and non-tobacco nicotine-containing products, and raising excise rates on beer and tobacco products. End