Government to hike taxes in 2023

November 30, BPN. The Council of Ministers has submitted a draft amendment to the Tax Code to the House of Representatives.

The document published on the National Legal Internet Portal provides for an increase in taxes in 2023 for individuals, business owners, and companies, including land tax for homeowners and owners of commercial properties. Some groups would face an increase in excess of 20 percent.

Tax on the first home would rise by more than 10 percent.

The single tax rate for individual entrepreneurs and self-employed individuals would increase as well, affecting sellers of food and non-food products, construction workers, translators, hairdressers, videographers, tutors, and others.

The single tax increase would depend on the occupation and place of residence. For instance, a tutor in Minsk would pay 164 rubels (about $67) instead 82 rubels ($34) per month, while those residing in regional centers, 152 rubels instead of 76 rubels.

The proposals also include an increase in the corporate income tax rate from 18 percent to 20 percent, individual income tax and duties on alcoholic beverages and nicotine products.