Belarus MOF Posts Taxpayer’s Guide for 2024 Budget

The Belarusian Ministry of Finance Jan. 8 posted online a taxpayer’s guide for the 2024 budget. The budget guide includes tax measures that: 1) set a 30 percent income tax rate for individual entrepreneurs when gross revenue exceeds 500,000 Belarusian rubles (US$151,522) per year with the subsequent termination of activities as an individual entrepreneur from the next year; 2) exempt individual entrepreneurs from paying VAT on sales turnover and provide an option to recognize income from sales on an accrual basis for taxation purposes; 3) establish indexing of tax rates set in Belarusian rubles based on inflation; 4) increase the ...