IMNS informs
1. Key changes to the single tax for individual entrepreneurs from 01.01.2024
1) The rates of the single tax have been increased. The new rates apply from February 2024; in January 2024, the rates of 2023 are in effect.
2) Individual entrepreneurs paying a single tax cannot sell the following goods at retail: liquids for electronic smoking systems, non-tobacco nicotine-containing products, electronic smoking systems, systems for tobacco consumption.
3) Individual entrepreneurs paying a single tax are not allowed to carry out snow and ice removal services for territories.
4) From 01.07.2024, tax declarations (calculations) can only be submitted in the established formats as electronic documents.
5) Individual entrepreneurs whose gross revenue cumulatively exceeds 500,000 rubles during 2024 must establish a legal entity from 01.01.2025; further activity as an individual entrepreneur is prohibited.
Gross revenue for calculating the excess amount of 40 times the single tax is accounted for on an accrual basis, as before.
2. Key changes to personal income tax for individual entrepreneurs from 01.01.2024
1) Individual entrepreneurs are excluded from the list of value-added tax payers for turnover from the sale of goods (works, services), property rights.
2) When determining the tax base for personal income tax, income from the sale of goods (works, services), property rights is accounted for only on a cash basis.
3) Individual entrepreneurs whose total income cumulatively exceeds 500,000 rubles during 2024 will pay tax at a rate of 30% (recalculation at the increased rate is made from the beginning of the year). From 01.01.2025, such individual entrepreneurs must establish a legal entity; further activity as an individual entrepreneur is prohibited.
4) From 01.07.2024, tax declarations (calculations) are submitted only in the established formats as electronic documents.
3. Tax deductions applicable to individual entrepreneurs and notaries from 2024.
Standard tax deduction (provided in the absence of a primary place of employment)
- for oneself – 174 rubles per month, if the taxable income, reduced by the amount of expenses, does not exceed 3167 rubles for the reporting quarter
- for children (dependents) under 18 years of age – as a general rule, 51 rubles for each dependent per month; parents with 2 or more children under 18 years of age or disabled children under 18 years of age – 97 rubles per month for each.
Social and property tax deductions are applied only for the tax period (for the calendar year) – when filing the final annual income tax return on income from entrepreneurial and notarial activities.
4. On changes in fixed income tax rates for renting out (subletting) residential premises.
The Ministry of Taxes and Levies Inspectorate for the Polotsk District draws the attention of individuals engaged in renting out (subletting) residential premises to the change in fixed income tax rates from February 1, 2024.
The fixed income tax rate for individuals renting out residential premises in the city of Miory and the city of Disna, Miory District, for each rented-out room is – 21 rubles, in other settlements and territories of Miory District – 15 rubles.
Please note that administrative liability is provided for providing residential premises for rent without paying fixed income tax.
5. Cryptocurrency transactions under control: assess your risks
A "job online," found on the social network Instagram, resulted in a young man being fined 20 base units and the confiscation of part of his income. The "side job" involved assisting an indefinite number of individuals in purchasing tokens. During an administrative process, the Ministry of Taxes and Levies Inspectorate for the Polotsk District established 55 transactions successfully completed within three weeks, from each of which the individual earned approximately 10% income.
Such activity is illegal and prohibited, and in the age of high technology, it is absolutely possible to track the commission of such operations. The tax authority, in close cooperation with law enforcement agencies, is actively working in this area.
Live wisely, work honestly!
6. To visitors of virtual gambling establishments who have registered a gaming account.
Access to a virtual gambling establishment after registering a gaming account is carried out using the login and password recorded by the gambling organizer when registering an individual as a participant in gambling.
By Decree of the President of the Republic of Belarus, a ban has been established on the transfer (disclosure) of information about one's login and password for access to the gaming account to third parties (other participants in gambling, visitors to a virtual gambling establishment).
Violation of this prohibition by players is regarded as the commission of a transaction prohibited by law (a void transaction). Everything received by both parties under such a void transaction (for example, all winnings (returned unplayed bets), paid (transferred, remitted) to the game participant after the transfer of login and password) is recovered into the income of the Republic of Belarus. In addition, the illegal distribution of authentication data, through which access to accounts or electronic wallets is possible, committed for selfish motives, constitutes a crime provided for by Article 222 of the Criminal Code.
The identification of cases of transfer of such information has unfortunately become a frequent occurrence, therefore, considering the severity of the negative consequences, think about your actions before you add to the sad statistics.
7. On the payment of income tax for renting out residential premises.