Tax legislation in Belarus amends every year. Part of the amendments, which will come into force in 2023, were adopted by the Tax Code of Belarus in 2022, the second part is currently being signed by the President and will be adopted in the near future.
- A new VAT object is introduced – the turnover of sales of goods (works, services) and property rights in Belarus, including the turnover of income received by a new creditor that has acquired a monetary claim, when the relevant monetary obligation is fully or partially terminated by performance, granting of compensation, set-off or novation.
- The requirements for determining the tax base for VAT have been strengthened. In particular, the Tax Code introduced a clause according to which the tax base for VAT is determined based on the purchase price, if the goods are sold at a price lower than the purchase price of goods purchased on the side, from the date of purchase of which less than twelve months have passed, if the purchased goods at their sale remained in unchanged condition. However, this rule is not applicable, for example, when sold at retail price, goods are fixed assets, real estate, vehicles registered in the authority.
Source Gratanet
