March 9, President of Belarus Alexander Lukashenko signed decree № 143 "On certain taxation issues". The document cancells for five years the income taxation for individuals who moved to Belarus for permanent residence upon the condition of movement of cash to the country, the press service of the head of state informed.
«The decree states by such kind of income the incomes derived from sources outside of Belarus in the form of dividends, interest, royalties, income from operations with securities, from the sale of immovable property», — illustrated the press-service.
In addition, the document stipulates that the basic rate of single tax from individual entrepreneurs and other individuals established in Belarusian rubles instead of the current euro «will simplify payments to the budget for the tax payers,» noted in the Presidential Administration.
«In order to ensure the additional income of funds to local budgets in 2010 the decree granted to local councils of deputiesthe right to increase (decrease), but not more than twice, land tax and property tax to certain categories of taxpayers,» — the document says.
In addition, the decree provides a number of other provisions, including alignment of Alyaksandr Lukashenka’s taxation decrees terminology in accordance to the Tax Code, told the press service of the Belarusian leader.
The document comes into effect on January 2010.
