The Ministry of Taxes and Duties has expanded the list of information to be collected on residents of the country. Resolution No. 20 of May 29 was published today on the National Legal Internet Portal.
Residents of the Hi-Tech Park (HTP) will be required to provide the Ministry of Taxes and Duties with information on the opening and closure of verified accounts belonging to Belarusian citizens, as well as foreign nationals and stateless persons permanently residing in the country, on the platforms of HTP resident companies. The information must be submitted no later than the 15th day of the month following the end of each quarter.
HTP residents will also be required to submit annual reports to the tax authorities on transactions conducted through these accounts if the total amount in each currency or electronic money exceeds 150,000 Belarusian rubles.
In addition, property developers will be required to provide the tax authorities once a year with information on individuals’ expenditures for the construction of real estate properties for which, during the previous calendar year, the developer submitted documents necessary for the state registration of ownership rights to shared-construction properties, or which were commissioned and whose cost continues to be paid by individuals after commissioning.
Another new requirement is the provision by banks of information on funds transferred abroad by individuals.
The provisions concerning HTP residents and property developers will enter into force three months after publication, while the provisions concerning banks will take effect on Jan. 1, 2027.
