Procedure for providing information to tax authorities of foreign states approved

The Edict of the President of the Republic of Belarus of 15 October 2015 No. 422 “On provision of information to tax authorities of foreign states” determined a universal procedure for providing tax-related information to tax authorities of the foreign states with which Belarus has concluded agreements to improve international tax compliance. According to the established procedure Belarusian financial institutions are obliged to provide annually identity data about foreign customers (nationals and organizations of such foreign states), contracts concluded by them, open accounts, balances and turnovers thereon for further provision to tax authorities of foreign states in accordance with concluded international agreements.

The Edict was officially published in Russian on the National Legal Internet Portal of the Republic of Belarus on 16 October 2015 and entered into force from 17 October 2015.