Belarus - Raiffeisen Bank International AG

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Environment tax 14 An environment tax in the form of a fixed euro payment per metric ton is levied on the use of natural resources, pollutant emissions, the transportation of mineral oil and petroleum products on Belarusian territory, the extraction or mining of raw materials and the creation of waste for landfill. The legislative basis for this tax is provided by the Special Part of the Tax Code No. 71-3 of 29 December 2009. Immovable property tax Companies must pay immovable property tax in the amount of 1 per cent of the value of a property owned or possessed by the company and of immovable properties that are under construction but for which the completion deadline has passed. Natural persons are charged this tax at a rate of 0.1 per cent of the value of the immovable properties they own. The legislative basis for this tax is provided by the Special Part of the Tax Code No. 71-3 of 29 December 2009 concerning immovable property. Local taxes and duties Local authorities are allowed to levy taxes and duties. Specifically, the Special Part of the Tax Code No. 71- 3 of 29 December 2009 gave them the right to levy eight taxes and duties at a rate of no more than 5 per cent. Charges for financial transactions conducted by legal entities Offshore fees Belarusian legal entities must pay a levy of 15 per cent of certain amounts remitted to offshore zones. Specifically, this affects payments to non-residents registered in offshore zones in the fulfillment of financial obligations, payments to accounts when no financial obligations exists and transfers of property rights. The legislative basis is provided by the Special Part of the Tax Code No. 71-3 of 29 December 2009 on offshore fees. Offshore zones are defined in Resolution No. 75 of the National Bank of Belarus dated 18 April 2002.
Special tax regimes Unified tax on agricultural producers This unified tax is levied at a rate of 2 per cent of agricultural producers’ gross revenues from the sale of goods, services, and other assets and other activities. This tax replaces all other taxes except excise duty and VAT. In addition, social security contributions, the extraordinary tax for the employment support fund, and any customs duties must also be paid. The legislative basis for this tax is provided by the Special Part of the Tax Code No. 71-3 of 29 December 2009 concerning the introduction of the unified tax on agricultural producers. Simplified taxation Since 1 July 2007, individual entrepreneurs and commercial organization have been entitled (subject to certain conditions) to apply a special taxation regime that greatly simplifies tax declaration and payment procedures. The President of the Republic of Belarus signed the relevant decree No. 119 on the simplified taxation system on 9 March 2007. Now, simplified taxation is regulated in the Special Part of the Tax Code No. 71-3 of 29 December 2009. In the simplified system, tax is charged on a gross revenue basis. Payment of this tax replaces the payment of numerous other taxes, duties (charges) and transfers to budgetary and non-budgetary funds. However, under the regulations that are generally applicable, the following must still be paid: – taxes and duties (charges) when importing (exporting) goods into (from) the customs territory of the Republic of Belarus; – offshore fees; – taxes on vehicle purchases; – compulsory contributions to the fund for social protection of the population. Whether or not VAT must be paid will depend on the number of employees and the amount of gross revenues. VAT is not payable if the average number of employees in a month does not exceed 15 and gross revenues in a year are less than BYR1,090 million. When the simplified regime is applied, gross revenues are defined as total revenues from the sale of goods and services and rights to intellectual property and revenues from non-selling operations. Revenues from the sale of foreign currency and VAT charged to purchasers do not count towards gross revenues. The following tax rates have been adopted for the simplified regime: 8 per cent for non-VATable organizations and individual entrepreneurs; 6 per cent for VATable organizations and individual entrepreneurs. 15
Page 1 and 2: Financial Market Report Belarus In
Page 3 and 4: The Belarusian Financial Market Imp
Page 5 and 6: The continuation of expansive polic
Page 7 and 8: The general view is that representa
Page 9 and 10: Forming a limited liability company
Page 11 and 12: 3. Taxation and Legislation VAT The
Page 13: Profit tax in a number of areas of
Page 17 and 18: 4. Privatization Roughly 75 per cen
Page 19 and 20: The arbitration clause of the Inter
Page 21 and 22: Who can apply? All natural persons
Page 23 and 24: 7. Risk Mitigation and Finance Guar
Page 25 and 26: Investment of €100 Austrian Compa
Page 27 and 28: 8. Payment and Account Services at
Page 29 and 30: 9.3. Clearing Mechanisms Settlement
Page 31 and 32: 10. Your International Business Spe
Page 33 and 34: Notes 33
Page 35 and 36: Notes 35

Belarus - Raiffeisen Bank International AG

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