The Ministry Of Finance Of Belarus Proposed To Introduce A 40% Tax For The Rich

Details.

Ministry of Finance of Belarus proposed to introduce a progressive income tax scale with a maximum rate of 40% for high-income citizens. This was stated by the head of the department Yuri Seliverstov, presenting the draft amendments to the Tax Code, BelTA informs.

According to the proposal, the prime rate of 13% will remain for annual income up to Br350 thousand (about $117 thousand). This category covers 98% of the country's population. For incomes from 350 thousand to 600 thousand Belarusian rubles (up to $200 thousand) the rate of 25% is envisaged, and over 600 thousand Belarusian rubles. - 40%.

The tax base will be expanded to include not only wages, but also income from the sale of shares in companies, interest on loans, rent payments, remuneration of members of supervisory boards, as well as income of lawyers and notaries.

The Ministry of Finance estimates that about 1 thousand people will fall under the increased rate of 40%.

The package of tax changes also includes an increase in excise taxes on tobacco products: by 12% for filterless cigarettes and cigarettes of the first price group, by 7% for cigarettes of the second price group, by 3% for products for heating tobacco. Excise duties on vapes and liquids for electronic smoking systems will increase by 20%.

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