Belarus Announces Modified Tax Rates and Other Measures for 2020

The Belarus government has issued a release announcing modified tax rates and other measures for 2020 as per Edict No. 503 of 31 December 2019. Some of the key points include:

• The corporate tax rate on profits from foreign exchange transactions is set at 25%;
• Requirements are set for individual income tax withholding by foreign organizations operating in Belarus through a permanent establishment, including that tax must be withheld and remitted no later than the 22nd day of the month follow…