Enterprises obliged to pay 30% fee when purchasing currency

The exception is made for oil and gas accounting.

Enterprises and banks are to pay 30% fee upon currency purchase before February 1. It is envisaged by the Decree # 607 “On the Tax on Operations on the Stock Exchange to Purchase Foreign Exchange,” signed by Alyaksandr Lukashenka today. The document was published at the website of the dictator.

Under the decree, until February 1, 2015 a tax is laid on operations for purchase of foreign exchange in stock market trading of the open stock company “Belarusian Currency and Stock Exchange”.

Banks which purchase foreign exchange in stock market trading under the procedure established in accordance with legislation are to be tax payers.

The taxable base of the tax is the sum in Belarusian rubles paid for the purchased foreign exchange.

“The rate of the tax is set at 30% of the sum in Belarusian rubles paid for the purchased foreign exchange,” the document reads.

The sum of the tax is compensated to payers by organisations and sole traders who bought foreign currency at the Belarusian Currency and Stock Exchange, and are not included in the expenses for production and realization of goods (services), proprietary rights, taken into account in tax assessment…”

According to the new law, banks are obliged to transfer foreign currency to entities and sole traders under the condition of reimbursement of the tax by them in full. The sums of the tax are to be transferred to the state budget at least 3 working days after the day of trading.

The press-service of Lukashenka offers the list of goods, settlements for which are exempt from taxation. They include oil, gas and electricity.