From July 1, a minimum professional income tax amount of at least 45 Belarusian rubles will be introduced in Belarus, the Ministry of Finance reports.
Photo: Andrey Rudakov Bloomberg via Getty Images
The new measure will affect professional income tax (PIT) payers. If the tax amount calculated at a 10% rate is less than the established minimum, 45 rubles will still have to be paid.
For example, with an income of 100 rubles, the tax would be 10 rubles, but the minimum amount will need to be remitted.
This is aimed at individuals who are actively involved in the economy but do not pay taxes in full. The measure is intended to ensure the gradual fair participation of the self-employed in financing state expenditures.
Additionally, the application of PIT will cease if the tax is not paid three times consecutively within the established deadlines. Reverting to this regime is possible no earlier than six months later. Tax payment must occur no later than the 22‑nd of each month following the end of the tax period.
For individual entrepreneurs, an additional payment of a single tax of 6% is also provided for the amount by which revenue exceeds forty times the single tax amount.
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