RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of March 6, 2018 No. 16

About financial accounting of digital signs (tokens)

Based on Item 14 of the Decree of the President of the Republic of Belarus of December 21, 2017 No. 8 "About development of digital economy", the paragraph of the fourth Item 5 of article 5 of the Law of the Republic of Belarus of July 12, 2013 No. 57-Z "About financial accounting and the reporting", the paragraph of third subitem 4.32 of item 4 and Item 10 of the Regulations on the Ministry of Finance of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 No. 1585, the Ministry of Finance of the Republic of Belarus DECIDES:

1. Approve the National accounting standard and the reporting "Digital signs (tokens)" it (is applied).

2. Make additions and changes to the following resolutions of the Ministry of Finance of the Republic of Belarus:

2.1. in the National accounting standard and the reporting "Individual accounting records" approved by the resolution of the Ministry of Finance of the Republic of Belarus of December 12, 2016 No. 104 (The national legal Internet portal of the Republic of Belarus, 31.12.2016, 8/31602):

in Item 52:

in subitem 52.7:

the fourth to add the paragraph with the words "for the end of previous year and the accounting period";

in paragraph five of the word "recovery of reserve" shall be replaced with words "recovery of reserves";

"outstanding" to exclude the word from the paragraph of the fourth subitem 52.13;

add the National standard with Item 54 following of content:

"54. In notes to the accounting records constituted by the organization performing economic activities with use of digital signs (tokens) (further - tokens), the following information is subject to disclosure:

structure of tokens by their types for the end of previous year and the accounting period;

original cost of the tokens shown in accounting reports under the net value of realization for the end of previous year and the accounting period;

the amounts of reserves under reduction in cost of tokens for the end of previous year and the accounting period, the amount of the reserves created in the accounting period under reduction in cost of tokens with allocation of the amounts of increase in the reserves created in previous periods under reduction in cost of tokens, the amounts of the reserves recovered in the accounting period under the reduction in cost of tokens, circumstances which caused recovery of reserves under reduction in cost of tokens in the accounting period;

the amounts of the obligations which arose in case of placement of own tokens before owners of these tokens for the end of previous year and the accounting period.";

2.2. in the National accounting standard and the reporting "The consolidated accounting records", No. 46 approved by the resolution of the Ministry of Finance of the Republic of Belarus of June 30, 2014 (The national legal Internet portal of the Republic of Belarus, 14.11. 2014, 8/29244; 31.12. 2016, 8/31602):

in Item 16:

in subitem 16.7:

the fourth to add the paragraph with the words "for the end of previous year and the accounting period";

in paragraph five of the word "recovery of reserve" shall be replaced with words "recovery of reserves";

"outstanding" to exclude the word from the paragraph of the fourth subitem 16.13;

add the National standard with Item 18 of the following content:

"18. In notes to the consolidated statements constituted by parent entity on group of the organizations performing economic activities with use of digital signs (tokens) (further - tokens), the following information is subject to disclosure:

structure of tokens by their types for the end of previous year and the accounting period;

original cost of the tokens shown in the consolidated statements on the net value of realization for the end of previous year and the accounting period;

the amounts of reserves under reduction in cost of tokens for the end of previous year and the accounting period, the amount of the reserves created in the accounting period under reduction in cost of tokens with allocation of the amounts of increase in the reserves created in previous periods under reduction in cost of tokens, the amounts of the reserves recovered in the accounting period under the reduction in cost of tokens, circumstances which caused recovery of reserves under reduction in cost of tokens in the accounting period;

the amounts of the obligations which arose in case of placement of own tokens before owners of these tokens for the end of previous year and the accounting period with allocation of the amounts of the obligations which arose when making intra group transactions.".

3. This resolution becomes effective since March 28, 2018.

Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of March 6, 2018 , No. 16

National accounting standard and reporting "Digital signs (tokens)"

Chapter 1. General provisions

1. This National standard determines procedure for forming in financial accounting of information on digital signs (tokens) (further – tokens) and the obligations arising in case of placement of own tokens before owners of these tokens (further, unless otherwise specified, – obligations), in the organizations (except for National Bank, banks, "Development Bank of the Republic of Belarus" open joint stock company, the non-bank credit and financial organizations, banking groups, bank holdings, state-financed organizations) (further – the organizations).

2. For the purposes of this National standard terms and their determinations in the values determined according to appendix 1 to the Decree of the President of the Republic of Belarus of December 21, 2017 No. 8, and also the following terms and their determinations are used:

operating costs – the costs which are directly connected with obtaining and placement of tokens;

reporting date – the last calendar day of month;

the accounting period – calendar month;

net value of realization – the expected realization value of unit or group of tokens less the expected expenses on their realization.

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