Belarus Gazettes Tax Overhaul Law

The Belarusian Official Gazette Jan. 4 published Law No. 230-Z, overhauling the tax code. The law includes measures: 1) increasing the income tax rate to 20 percent, from 18 percent for corporations, and from 16 percent for individual entrepreneurs; 2) effective Jan. 1, 2023, reducing the scope of the simplified taxation system for individual entrepreneurs, and providing transitional procedures; 3) increasing the rates for simplified taxes due after Jan. 30, 2023; 4) increasing the income tax rate to 26 percent from 20 percent for income from illegal activities; 5) extending the 13 percent tax rate to income of individuals from ...