In Belarus the procedure for keeping records of income and expensescan be simplified

The Ministry of Taxes and Levies of Belarus is working to simplify the procedure for keeping records of incomes and expenses by individual entrepreneurs, including taking into account the planned changes to the Tax Code. This information appeared on the site office.

In this regard, a department held a meeting under the leadership of Deputy Minister Svetlana Shevchenko with the participation of representatives of public associations, individual entrepreneurs and tax consultants, at which the relevant proposals of the Ministry were discussed.

In particular, among the proposals was to provide the right of individual entrepreneurs to reflect in the book the accounting of incomes and expenses of organizations and individual entrepreneurs applying the simplified taxation system, revenue from the sale of goods (works, services), property rights following the results of operations per day or per month, only in the first part of the relevant section of the book (in part I of section I of the accounting book of the USN) without filling in other parts of the same section.

Another proposal is to reduce the list of information that is reflected by tax agents in terms of personal income tax (paragraph 2 of section II of the USN accounting book), and also provide the IP with the right not to keep accounts of accounts payable (not to keep part III of section I of the USN accounting book).

Business representatives were in favor of the ministry’s proposals.

SB, Translated by Olga Ilyuk