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Belarusian Tax Ministry to take closer look at online trade

14/02/2016

According to BelTA the Belarusian Tax and Duties Ministry will step up efforts to legalize revenues from international online trade in 2016, BelTA learned from Belarusian First Deputy Tax and Duties Minister Igor Klepcha during a press conference on 12 February.

We will greatly step up efforts to move revenues from international digital trade and various services provided by non-residents via mobile apps into the legal economic circulation, said the Belarusian First Tax and Duties Minister. Belarus' Tax Code was changed considerably in 2016. It will allow the tax service to pay attention not only to foreign trade deals involving foreign mutually dependent persons and residents of offshore areas but also Belarusian organizations that enjoy tax preferences. Igor Klepcha said that in the last four years the share of profit tax dropped from 19% to 11% in the revenues controlled by the Belarusian tax services. According to the source, the transfer pricing mechanism has been used recently to minimize profits. The Tax and Duties Ministry works systemically to organize effective control in this area. Some experience has already been accumulated. Igor Klepcha said in 2015 they detected 30 cases when profit tax was diminished using transfer prices. Audits resulted in Br7.6 billion in extra revenues transferred to the state budget.

Useful links:

http://eng.belta.by/economics/view/belarusian-tax-ministry-to-take-closer-look-at-online-trade-88945-2016/


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