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The taxation of incomes of nationals concerning the sell of shares will be abolished



20.05.2011 Belarus

In Belarus the taxation of individuals incomes concerning selling shares are planned to be abolished in case if those securities have been possessed for more than 3 years.


The new edition of the law on securities and stock exchange which contains such a norm will be prepared till September of the current year.

The changes into the law wont affect legal entities. Irrespective of the term of securities ownership, legal entities, in particular residents, pay the tax on profit at the rate of 24%. In this case the gross profit from the securities operations is levied. When determining the gross profit its necessary to consider taxpayers profits in realization of securities in terms of prices of their realization and of received sum of cumulative percentage income[1], and also costs of the taxpayer in realization of securities.

 

[1] The cumulative percentage income is a part of a percentage income, the payment of which is calculated in proportion to the number of days, passed since the date of issue of the security or the date of the previous percentage income till the date of selling of this security.

 


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