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Belarus Allows Taxpayers to Suspend Depreciation and Amortization in 2016 — Orbitax Tax News & Alerts

On 4 April 2016, the Belarusian Ministry of Economy and Ministry of Architecture and Construction jointly issued a guidance letter on suspending depreciation and amortization of assets in 2016. According to the letter, taxpayers may elect to suspend the depreciation of tangible assets and the amortization of intangible assets for the period 1 January 2016 to 31 December 2016, with the useful life of the assets extended by an equal period. If elected, the suspension must apply for the whole period, and may not be postponed or resumed.