Belarus plans to introduce VAT on purchases in foreign online stores

By June 2022, Belarus plans to introduce VAT on purchases in foreign online stores, this provides for an updated Tax Code. This was stated on the air of ONT by Finance Minister Yuri Seliverstov, minsknews.by reports.

"When buying goods in foreign online stores, citizens transfer money to the owner of this store, who is registered as a business entity in another country. And taxes are paid to the budget of that country. Goods that are sold in ordinary stores, and there is VAT, are not in the same situation with those who trade in this way" - he said.

The introduction of such a tax levels the conditions for trade and will encourage stores to register and pay taxes in Belarus.

The tax for foreign trading platforms (such as AliExpress, OZON, Wildberries) will be effective from July 1, 2022. Before that time, foreign online stores will have time to inform about the changes. At the same time, the amount of tax is not specified, but the standard VAT rate in Belarus is 20%.

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Photo: belnaviny.by