VAT Implications for Commercial Organizations Created by Individual Entrepreneurs Clarified by Belarusian Ministry

• Individual entrepreneurs can create commercial organizations established by one person starting Oct. 1
• Goods transferred to the organization have VAT added to their value
• Commercial organizations cannot deduct VAT from goods received from individual entrepreneurs
• Sale of goods by commercial organizations is subject to VAT
• Lessors can present VAT amounts to commercial organizations at the leasing rate

Source: news.bloombergtax.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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