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Belarusian dividend taxation moves towards Estonian model

Belarus adopted a new Tax Code from the 1st of January, 2019. The main changes are as follows.

For physical persons:

- Tax declaration deadline was moved from 1.3. to 31.3.
- Applying at any tax office is now possible, instead of always having to go to the one defined by your place of registration
- Other minor changes related to gifting property, renting apartments and deadlines of paying tax debts.

For the owners of companies, there are very interesting news. The law regarding dividend taxation has moved towards the Estonian model, where dividends are not taxed if they are re-invested in the company. Generally dividends are taxed at 13 %.

Now the tax may be paid either at a reduced rate or not at all, depending:

- If you distribute dividends after 3 years then the dividend tax rate will be 6%

- If you distribute dividends after 5 years then the dividends will not be taxed.

Estonia has managed to attract significant investments with a similar system where undistributed dividends are not taxed.

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