The standard corporate income tax (CIT), also known in Belarus as profits tax, rate is 18%. Other rates apply in certain spheres, and some of them are indicated below.
The CIT rate for banks, insurance companies, and forex companies is 25%.
For the period 2021 through 2022, as a temporary measure due to COVID-19, the CIT rate for mobile telecommunication operators and microlenders has been set at 30%.
The CIT rate for companies carrying out transit of oil/oil products by main pipelines through the territory of Belarus is 50%.
All resident companies are required to recognise revenue derived from the supply of goods, works, services, and property rights as of the date when it was recorded in accounting in line with the accrual method, notwithstanding the date of settlement for goods, works, services, and property rights supplied.
CIT is charged on taxable income (net profits). Taxable income is generally determined as revenues from sales of goods, works, and services, excluding value-added tax (VAT), less production and business-related costs, less other deductible expenses, plus net results of non-operating income and expenses.
Resident companies are taxed on their worldwide income. The amount of tax paid by a Belarusian company to the foreign tax authorities with regard to the income received from its activity abroad is deducted from the amount of CIT reported with regard to the worldwide income.
Non-resident companies are taxed on Belarus-sourced income derived through a permanent establishment (PE) with CIT (at the rate of 18%). Income of non-resident companies sourced in Belarus that is not related to the activities of a PE is subject to withholding tax (WHT) (at rates varying from 0% to 15%).
Local income taxes
There are no provincial or local taxes due on net profits.