The Ministry of Taxes and Duties of Belarus has provided clarifications in connection with incoming questions regarding the creation of a commercial organization of individual entrepreneurs.
Many questions concern the specifics of filing tax returns by such entrepreneurs.
As reported by the press service of the Ministry of Taxes and Duties, individual entrepreneurs must submit tax returns in accordance with the established procedure no later than the date preceding the date of registration of the commercial organization.
Income tax
The documents cover the expired tax period and/or the period from the beginning of the current tax period to the date of their submission.
The tax obligation is fulfilled by a commercial organization no later than the 22nd day of the month following the quarter in which it is registered in the Unified State Register of Individual Entrepreneurs and Legal Entities.
Individual entrepreneurs who are income tax payers submit a tax return for the period of activity from January 1, 2024 to the date of its submission, indicating the deadline for payment of the calculated tax of January 22, 2025.
Please note that they can take advantage of tax deductions, but must comply with the conditions for their application.
Single tax
Individual entrepreneurs who are single tax payers must submit declarations taking into account certain nuances.
For example, an individual entrepreneur created a commercial organization and was excluded from the Unified State Register on November 5, 2024.
And on October 1 of the same year, he submitted a declaration on a single tax for the 4th quarter - the tax was calculated for payment by the deadlines of October 1, November 1 and December 2, 2024.
In such a situation, the individual entrepreneur must submit a single tax declaration with amendments and additions no later than November 4, 2024.
It is necessary to indicate the period of your activity in the first (31 days), second (4 days) and third (no activity) months of the 4th quarter.
If the gross revenue is higher than 40 times the amount of the single tax for the 3rd and (or) 4th quarter, calculate the additional payment of the single tax.
In other words, the tax liability for October is not recalculated.
For November and December, the amount of the single tax subject to offset or refund is recalculated.
If there is an amount to be paid as additional single tax for the 3rd and/or 4th quarter of 2024, the deadline is indicated as no later than January 22, 2025.
Tax on income of individual entrepreneurs' employees
There is also a nuance for individual entrepreneurs acting as tax agents for income tax on income paid to their employees.
The deadlines for fulfilling the tax agent’s obligation to withhold and transfer personal income tax amounts must comply with the requirements of Article 216 of the Tax Code, the Ministry of Taxes and Duties noted.
An individual entrepreneur must submit, no later than the day preceding the day of registration of a commercial organization, a tax agent declaration on income tax for the expired reporting period and (or) for the period from the beginning of the current period to the date of submission of the declaration.
For example, if a commercial organization was created on November 5, 2024, then the individual entrepreneur submits the corresponding declaration for the 4th quarter of this year (for the period from October 1 to November 4).
For reference
An individual entrepreneur (IE) in Belarus is an individual registered in accordance with the procedure established by law and carrying out entrepreneurial activities.
