MINSK, 8 December (BelTA) – Natalya Kuleshova, a member of the House of Representatives of the National Assembly of Belarus, discussed income tax rates during an appearance on the STV television channel, as reported by BelTA.
“The practice in all foreign countries is that those who earn more pay more. If we look at European countries, their income tax rates reach up to 54%,” said Natalya Kuleshova.
She outlined the new three-tiered personal income tax system effective 1 January, with rates of 13%, 25%, and 30%. “The 13% rate applies to income up to Br350,000. This includes labor income, income from civil contracts, dividends, payments to members of the Supervisory Board and Board of Directors, as well as interest on loans received by individuals,” the deputy explained.
A 25% rate will apply to income exceeding Br350,000 but not exceeding Br600,000, while income over Br600,000 will be taxed at 30%.
Natalya Kuleshova also clarified the treatment of dividends. “Regarding dividends, in order to preserve investment potential and ensure a level playing field for investors, we are maintaining the same rates: 13% and 25%. The 13% rate applies to total income up to Br350,000. For income of Br350,000 and above, the rate is 25%.”
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