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Belarus Allows Taxpayers to Suspend Depreciation in 2017 — Orbitax Tax News & Alerts

The Belarusian Council of Ministers has issued Decree No. 84 of 30 January 2017 on suspending depreciation of assets in 2017. According to the decree, taxpayers may elect to suspend the depreciation of fixed assets and intangible assets for the period 1 January 2017 to 31 December 2017, with the useful life of the assets extended by an equal period. The election, however, is not available for banks, open joint-stock companies, non-bank financial institutions, and individual entrepreneurs. The election also does not apply in respect of fixed assets used to provide subsidized housing and utilities services, and transport services to the public.