What Products Will Rise in Price Due to the Doubling of VAT?

Several products will rise in price.

The Ministry of Taxes and Duties reports that since January 1, the value-added tax on some imported products has doubled. And if earlier importers paid 10% VAT on the import of these goods, now the tax is 20%, writes onliner.by.

"From 01.01.2021, certain items of food products are subject to VAT at a rate of 20% when they are sold on the territory of the Republic of Belarus and when they are imported into the territory of the Republic of Belarus, instead of the previously applied VAT rate of 10%," the department reports.

So, until January 1 of this year, imported bread and other flour confectionery products were subject to import VAT at a rate of 10%. The exceptions were snacks, chips, and other items.

From January 1, 2021, importers will have to pay 20% on the import of sweet, dry biscuits, as well as crackers, hardtacks, waffles and wafer plates, rice paper, chips, snacks, and so on.