Government considers 40-percent income tax for superrich

November 19, Pozirk. The Belarusian government is considering imposing a higher income tax on the superrich after a 25-percent tax on high earners generated substantial revenue, the tax minister told the Belarus 1 television station.

Dźmitryj Kijko, minister of taxes and levies, said that nearly 8,000 of the country’s 4.5 million taxpayers reported incomes of over 200,000 rubels ($67,000) in 2024 and paid the 25-percent income tax.

He noted that around 200 million rubels in revenue from this tax went to local budgets.

Next year, the government is considering introducing a 40-percent tax for individuals with incomes over 600,000 rubels (more than $200,000).

Kijko said that fewer than 1,000 people declared incomes above 600,000 rubels last year. Revenue generated by higher taxes on the rich would double if the new tax on the superrich is introduced, he said.

The government introduced the 25-percent tax on high-income earners in late 2023. Individuals with lower incomes pay a rate of 13 percent.

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