How will taxation for foreign companies change in Belarus?

How will taxation for foreign companies change in Belarus?

A range of novelties has been introduced in Belarus from January 1, 2018.

What is more, novelties concern taxation as well. The VAT of 20% from now on must be paid by foreign companies, which provided services in an electronic form in Belarus. It concerns selling games and apps through the internet, downloading music, films, e-books, paid subscription and online-editions. The tax can be paid through a personal account on the official website of the Taxes and Duties Ministry of Belarus.

Ella Selitskaya, Deputy Tax and Duties Minister of the Republic of Belarus:
By using international practice, we are hoping to receive profit from the non-residents of the Belarusian budget from this tax. And, may be, at the primary stage it won’t be very big; however, if we consider the fact that the IT sector is developing actively, it will bring a reasonable profit to the Belarusian budget within years.

This kind of tax is widespread in the world. Such a novelty has been introduced in Russia exactly one year ago. What is more, it is not new to such countries as Australia, India, Japan and South Korea.

SEE: Tax advisers to appear in Belarus by 2019