About 10,000 Belarusians will pay excess income tax in 2024.
This information was announced at a press conference on November 5 by the head of the Main Department of Taxation of Individuals of the Ministry of Taxes and Duties of Belarus, Andrei Kovalevsky.
His statement is cited by BELTA .
Who will be subject to excess income tax?
Since January 1 of this year, a new income tax rate of 25% has been in effect in Belarus.
It is applied only to three types of income (labor income, dividends and income from civil law contracts, the subject of which is the performance of work/provision of services/creation of intellectual property), exceeding a total of 200,000 rubles per year.
Individuals whose income is subject to excess income tax will need to file their own income tax return.
As Kovalevsky explained, an individual who earns more than 200,000 rubles from a Belarusian organization in a year across three types of income will have to submit a tax return at the end of the current year.
The tax authority will then recalculate the excess amount at a rate of 25%, take into account the tax that was paid during the year, and present the difference for taxation.
That is, we can talk about an additional payment of 12% of the amount exceeding 200,000 rubles, said a representative of the Ministry of Taxes and Duties.
He clarified that this refers specifically to the three above-mentioned types of taxes; income from the sale of real estate is not taken into account.
According to the Ministry of Taxes and Duties, increased taxation (based on an analysis of the income base for last year) will affect approximately 10,000 citizens.
