On 19 December 2014, the Belarusian Senate approved Tax Code amendments for 2015. The key amendments are summarized as follows:
Corporate Taxation
- The reduced 9% capital gains tax rate on gains from the sales of shares is abolished, and the 18% rate applies
- The corporate tax rate for banks and insurance companies is increased from 18% to 25%
Individual Taxation
- The individual income tax rate is increased from 12% to 13%, although additional deductions will be allowed
Transfer Pricin…