Financial law

There is a number of preferential legal regimes for investors in Belarus: High-Tech Park, Great Stone China-Belarus Industrial Park, free economic zones, and doing business in rural areas.

All these regimes have their own requirements for investors in terms of the level of investments required and types of business, as well as provide various tax preferences to their residents.

Lawyers will help understand the peculiarities of taxation regimes and choose the most convenient business model.

Upon gaining income in Belarus and abroad, the client may need to report to the tax authorities on the funds gained and pay the income tax within the established terms. Missing such terms may cause imposition of penalties.

Lawyers will help fill out and file your tax return in a hardcopy or electronic form and calculate the amount of income tax payable.

The tax residency of an individual may not coincide with their citizenship. It is important to correctly determine the tax resident status in order to know in which country, from what incomes and in what terms to pay the income tax.

Lawyers will help correctly determine the tax residency country, as well as to confirm it with the tax authorities of Belarus, including confirmation with the help of the electronic tax residency certificate.

The Republic of Belarus has concluded treaties on avoidance of double taxation with more than 70 countries. Their proper use makes it possible to avoid the obligation to pay taxes twice in different countries when receiving salaries, dividends, interest on loans and other income.

Arzinger will analyze the category of income received by the client and the conditions of its taxation in Belarus and abroad to minimize the costs.

The more complex is the proposed transaction, the more thorough preliminary calculation of the tax liabilities arising from it is required. The company must consider the transfer pricing and thin capitalization aspects, determine the obligations to pay VAT and other taxes in advance. If a non-resident acts as a party to the transaction, the number of aspects to be taken into consideration is increased.

Arzinger will help calculate the risks of arising of a permanent representation in Belarus for tax purposes when making a deal, determine the country where goods, works and services are sold under the agreement and the need for a resident to act as a tax agent for a foreign business partner.

By monitoring the company’s activities, tax authorities can reveal the facts of underpayment of taxes to the budget, delays in their payment or incorrect displaying of certain economic transactions in accounting.

It can cause such negative consequences as penalties, forced suspension of economic activities and assignment of the status of an organization with the increased risk of committing offenses in the economic sphere to the organization.

Arzinger experts are ready to get involved into the dispute at the stage of inspection performed by the tax authority, so as not to bring the situation to court. And if it comes to resolving the dispute in court, they are ready to help finalize the situation with the minimum consequences for the client.

It is important for a company to perform a full check on compliance with its tax obligations periodically. Timely revealing of underpaid taxes, incorrect accounting of funds and non-submitted tax returns will help avoid unforeseen expenses and liability for the organization and its managers in future.

Lawyers will analyze the tax policy of the organization and give useful recommendations on its improvement.

When incorporating a company, it is necessary to determine who will be the founder, how the profit will be reinvested and where the dividends will be transferred. Solution of all these issues is associated with the tax burden determination and incorrect calculation can cause to additional financial expenses.

The lawyers of Arzinger tax practice know how to arrange the business so that to reduce your expenses and increase revenues.