The day before, the lower house of the Belarusian parliament approved amendments to the Tax Code in the second reading.
We tell you what will change for taxpayers next year.
What changes can Belarusians expect in 2025?
As reported by the House of Representatives' telegram channel, the approved bill provides for a number of measures aimed at consolidating budget revenues.
Thus, excise tax rates on alcohol and tobacco products will be increased.
Tax rates set in absolute values will be indexed to the forecast growth of consumer prices, rates of property tax, income, land and environmental taxes from individuals in fixed amounts - to the forecast average annual inflation rate next year (105.4%)
Ineffective tax breaks will be cancelled, some will be transformed into reduced rates. The procedure for applying the investment deduction will be revised.
The Tax Code will be brought into line with current legislation affecting various areas: entrepreneurial, architectural and urban planning activities, the activities of religious organizations, etc.
Additional preferences are being introduced for individuals on income tax: for large families engaged in the construction/purchase of housing, the restriction on the one-time receipt of a property deduction has been lifted.
The list of young specialists/workers/employees with higher, scientifically oriented secondary specialized or vocational education who are entitled to a standard tax deduction has been expanded.
The rights of tax authorities and articles of the Tax Code that regulate the implementation of tax control and tax obligations have been adjusted.
The document also provides for the application of a zero rate of value added tax (VAT) on services for international road freight transportation in the part of the route starting and ending in Belarus, and an increase to 3.5 million rubles of the revenue criterion for the application of the simplified taxation system (STS).
