Changes in Reporting of Individuals’ Income. On Excess Income Payments. New Rules for Contractual Agreements. On Loan Issuance and more: a Legislative News Overview
The legislative news overview is presented as of May 07, 2026.
Reporting individuals’ income: change in submission deadlines
Tax agents (specifically, accountants) are facing changes in frequency and deadlines for submitting individuals’ income information. The corresponding amendments were made to Regulation No. 201 of April 7, 2021, by Council of Ministers Resolution No. 201 of April 25, 2026.
The key amendment is the gradual transition from annual to quarterly reporting.
Now information must be submitted no later than the 20th day of the month following the reporting period:
- for 6 months of 2026 – until July 20, 2026
- for 12 months of 2026 – until January 20, 2027
Starting in 2027, full quarterly reporting to be introduced for 3, 6, 9, and 12 months—quarterly by the 20th of the following month.
The above-mentioned document specifies the reporting deadlines for organizations and individual entrepreneurs in cases of liquidation (cessation of activities).
Deadlines for submission of information:
- in case of liquidation of an organization or cessation of activities by individual entrepreneur – no later than 10 working days before submitting the liquidation balance sheet or notification of cessation of activities to the registering authority;
- in case of liquidation proceedings – no later than the day the court issues an order on its completion;
- in case of cessation of activities as a result of reorganization – no later than 30 calendar days from the date of approval of the separation balance sheet or deed of transfer;
- for foreign organizations and branches – no later than 10 working days before the cessation of activities or notification of the tax authority about the liquidation of the branch.
More details on the resolution can be found on the Pravo.by.
For the attention of tax agents regarding the payment of excess income
From 2026, tax agents paying excess income to foreign citizens, stateless persons, and those who do not reside in the Republic of Belarus permanently are required to withhold and transfer income tax to the budget at rates of 25% and 30% directly from each payment.
However, this does not exempt such persons from submitting to the tax authority a tax return (calculation) on income tax at the end of the year for the income they received, taxed at higher rates.
If a foreign citizen submits to the tax agent documents confirming his status as a tax resident of a foreign state, then the provisions of the international double taxation agreement concluded between the Republic of Belarus and that state shall apply, along with the tax rate stipulated by the international agreement.
For more information, visit the website of the Ministry of Taxes and Duties.
Access to the Social Protection Fund portal
Due to the updating of addressing and changes to protocols, the Social Protection Fund draws attention to two important points:
- Portal users authorizing via Internet Explorer browser/Internet Explorer mode must configure their workstation in accordance with the “Instructions for configuring a workstation and authorization”;
- Accounting system developers performing system-to-system mode must change the service access address in accordance with the “Description of the Fund’s corporate portal protocols intended for processing reference requests and receiving documents from external information systems.”
It is necessary to make the appropriate settings to maintain access to the Portal after May 19, 2026. It is advisable to set up your workstation in advance.
More detailed information can be found on the Social Protection Fund website.
Voluntary life insurance contracts for the benefit of their employees
Decree of the Council of Ministers of the Republic of Belarus No. 202 dated April 25, 2026 “On Amending the Decree of the Council of Ministers of the Republic of Belarus No.768 dated October 18, 2024” entered into force on April 27, 2026.
The list of activities for which organizations are entitled to enter into voluntary life insurance contracts for their employees was supplemented with types of activities with an increased risk of injury to the employee. The list now includes postal, courier, and auxiliary transport activities; warehousing; and activities in architecture, engineering surveys, technical testing, and analysis.
The list was also supplemented with types of activities for which organizations have the right to enter into voluntary life insurance contracts for the benefit of their employees, subject to participation in voluntary insurance of additional funded pensions.
The list, in particular, was supplemented with activities in the field of temporary accommodation and public catering services, information and communication, real estate transactions, trade in automobiles (motorcycles) and parts thereof, repair of computers, personal items and household goods, laundry and dry cleaning of clothes, hairdressing and beauty services, funeral services, as well as the activities of private households that hire servants and produce goods and services for their own consumption.
It should be noted that the type of economic activity of an organization entering into voluntary life insurance contracts for the benefit of its employees must be Its primary activity.
More details can be found on the website of the Council of Ministers of the Republic of Belarus.
New rules for working with contractual agreements from May 15, 2026
On May 15, 2026, Decree No. 45 of February 12, 2026, “On Ensuring the Payment of Wages and Remuneration”, which amends the regulation of civil contracts, will come into force in Belarus.
Previously, the civil law contract had to specify the payment procedure and the amount of remuneration.
As of May 15, 2026, an additional mandatory requirement will be introduced: the contract must explicitly specify the payment period for remuneration.
The contract must contain not only the payment procedure, but also a specific time period within which the customer is obliged to settle accounts with the contractor.
Decree No. 45 does not contain direct requirement to amend previously concluded civil law contracts. However, it is advisable to bring them into compliance with the new regulations, as a contract that contradicts the law may be declared void, necessitating the return of funds received or compensation for the cost of work performed.
Restrictions on issuing loans from April 23, 2026
On April 23, 2026, the Law “On Amending Laws on the Provision of Loans” came into force and introduced restrictions on the issuance of loans to individuals.
Organizations and individual entrepreneurs will be able to issue cash loans only to:
- to its employees (when existing employment relationships);
- other individual entrepreneurs.
It is prohibited to issue loans to individuals, including:
- founders (participants) of companies who do not work in the company and do not have the status of individual entrepreneurs;
- owners of property of private unitary enterprises.
The new restrictions do not apply to commercial loans.
Legal entities (not microfinance organizations) and individual entrepreneurs cannot extend loan agreements with individuals (not individual entrepreneurs) concluded before the law came into force.
If prohibited terms are included in the loan agreement after April 23, 2026, it may be declared void.
Rules for carrying out transactions with electronic money
From May 15, 2026, the Rules for carrying out transactions with electronic money are to change.
If an e-money distribution agent receives e-money from the issuer with a deferred payment, the agent is entitled to distribute it to the holder only after receiving funds from the holders. However, if the agent has transferred funds to the issuer for e-money in advance, they may grant the holders a deferred payment. For agents that are not financial institutions, the maximum deferred payment amount is 12 base units.
By May 15, 2026 to bring agreements between payment service providers and service users into compliance with the new requirements.
You can read the act in details by following the link on the Pravo.by website.
To receive professional advice regarding the application of current legislation for accounting purposes or to receive advice on tax matters, please submit your inquiries through the feedback form on the website or write to email: info@assurance.by.
