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Belarus Provides Option for Suspension of Depreciation for One Year — Orbitax Tax News & Alerts

The Belarus Council of Ministers has approved Decree No. 229 of 15 April 2020 in light of the current COVID-19 situation. The Decree establishes the option for taxpayers to suspend from 1 January to 31 December 2020, the depreciation of all tangible and intangible assets used for business activity. Where the option is taken, the useful life of the assets is extended for the period in which depreciation is not calculated.