President of Belarus Alexander Lukashenko signed Decree No. 285 "On Taxation". This was reported to BELTA by the press service of the Head of State.
President of Belarus Alexander Lukashenko signed Decree No. 285 "On Taxation". This was reported to BELTA by the press service of the Head of State.
The document introduces amendments to certain provisions of tax legislation, taking into account law enforcement practice. In particular, decrees and individual provisions of decrees whose content is reflected in the updated Tax Code have been repealed. Income received in the form of insurance compensation or benefits due to the occurrence of insured events under voluntary life insurance and additional pension contracts concluded before January 1, 2021, for a term of less than three years, are exempted from personal income tax.
The value added tax rate has also been reduced from 20% to 10% for certain food products: instant biscuits, vegetables and other homogenized products, fruits, nuts, and juices for baby food.
The provisions of Decree No. 160 of May 12, 2020, "On Rent for Land Plots Owned by the State" have been brought into line with the terminology and approaches used in the Tax Code for calculating, exempting from payment, and determining land tax rates.
In addition, the decree establishes a special procedure (using an increased coefficient to the cadastral value of 0.015) for calculating rent for land plots provided for the placement of shopping centers, including parking lots serving these shopping centers and retail outlets belonging to a retail chain, in 2021-2022.
Source: belta.by