The campaign for individuals to declare their 2022 income has begun

Savetskaya Vyoshka January 12, 2023 9:13 Counting and Reporting

Most of our income is taxable. The responsibility for paying income tax usually lies with the organizations where citizens work, however, they often receive money from other sources as well. In such cases, one should submit a tax return and, if necessary, pay the tax. The Ministry of Taxes and Duties reminded who must report their income and how this can be done.

One must report income received in the past year no later than March 31, 2023. The tax return can be submitted either by personally visiting the tax office or through a legal or authorized representative. It is also permissible to send it by mail or using software and technical means through the taxpayer's personal account.

Who must submit a tax return? First of all, those who received income from the sale or other compensated transfer (exchange, rent) of property. Thus, those who sold two or more cars during the calendar year should take care of the declaration, with a maximum technically permissible gross mass not exceeding 3.5 tons and the number of seats besides the driver's seat not exceeding eight, or one car weighing more than 3.5 tons and equipped with a larger number of seats.

Income from the sale or other compensated transfer of certain real estate objects is also subject to declaration. At the same time, income received by individuals from the sale within five years of one residential house, apartment, country house, garden cottage, garage, parking space, or land plot is not declared, and no tax is paid. However, the Ministry of Taxes and Duties clarifies that if, for example, you sold one country house in 2019 and one apartment in 2022, i.e., real estate objects with different names, then these incomes are exempt from the relevant tax. Income received from the sale of property inherited through inheritance is also exempt from income tax regardless of the frequency of its transfer.

A tax return must be submitted by those who during 2022 received income as a result of gifting, in the form of real estate under a free-of-charge annuity agreement from individuals, under agreements not related to entrepreneurial activity, in an amount exceeding 8,078 Belarusian rubles. The exception is income received by an individual from close relatives and persons who are related to them through affinity, guardianship, trusteeship, and ward relationships. Such income is not subject to personal income tax regardless of the amount. Persons in close kinship relations include parents (adoptive parents), children (including adopted), full siblings, grandparents, grandchildren, great-grandparents, great-grandchildren, and spouses. Affinity relatives include the close relatives of the other spouse, including a deceased one.

Individuals recognized as tax residents of Belarus in 2022 who received funds from abroad or abroad during this period should also report their income. At the same time, an individual who was outside our country for 183 days or more in a calendar year is not recognized as a tax resident of Belarus.

The personal income tax calculated on the basis of the submitted tax return must be paid by the individual no later than June 1, 2023.

SB

Tags: taxes