Belarus Tax Ministry Clarifies Various Tax Measures Under Tax Overhaul Law

The Belarusian Ministry of Taxes and Duties Jan. 8 clarified various tax measures under the tax overhaul law. The clarification includes: 1) the exemption of individual entrepreneurs from VAT on turnover from the sale of goods and property rights; 2) an increased tax rate of 30 percent for individual entrepreneurs that exceed the revenue threshold of 500,000 Belarusian rubles (US$151,522); 3) the increased single tax rates, transport tax rates, and income received from a legal entity within three years after dismissal isn’t considered professional tax; 4) a change in the method of payment of land, real estate, and transport tax, ...