of May 25, 2021 No. 196
About services of online borrowing and leasing activities
For the purpose of increase in availability of financial services and protection of the rights of their consumers, and also forming of conditions for further development of entrepreneurship and business initiative:
1. Determine that:
1.1. in the Republic of Belarus (further - the loan agreement) and the agreements signed in ensuring obligation fulfillment according to the loan agreement (further - the agreement in ensuring obligation fulfillment), by means of online borrowing services * only operators of services of online borrowing have the right to perform activities for creation of conditions for the conclusion and execution of loan agreements of money.
Implementation by other persons of the activities specified in part one of this subitem is illegal and is forbidden;
* For the purposes of this Decree terms and their determinations are applied according to appendix 1.
1.2. the income tax from physical persons from the loan amounts provided to physical persons by means of online borrowing service is not estimated:
Belarusian individual entrepreneurs;
the foreign organizations performing activities in the territory of the Republic of Belarus through permanent mission;
the representative offices of the foreign organizations opened according to the procedure, established by the legislation of the Republic of Belarus;
tax authorities in the cases established in subitem 1.2 of Item 1 of article 220 of the Tax Code of the Republic of Belarus;
1.3. performed by the physical persons who are not acting as individual entrepreneurs, activities for provision by means of services of online borrowing of loans are not business activity;
1.4. operators of services of online borrowing are persons performing financial transactions and shall observe requirements of the legislation on prevention of legalization of income gained in the criminal way, financings of terrorist activities and financing of distribution of weapons of mass destruction imposed to them (further - POD/FT).
Control of activities of operators of services of online borrowing regarding observance of the legislation on POD/FT by them is exercised by National Bank.
3. Grant the right to National Bank to explain questions of application of this Decree.
4. Make changes to presidential decrees of the Republic of Belarus (appendix 2).
5. The loan agreements signed before entry into force of this Decree are not subject to reduction in compliance with this Decree and are effective before execution of all obligations by the parties on them.
6. The contracts of finance lease (leasing) signed before entry into force of this Decree within which leasing recipients are the physical persons who are not acting in case of the conclusion of such agreements as individual entrepreneurs are subject to reduction in compliance with this Decree in two-month time from the date of its entry into force.
To the relations arising from the agreements of finance lease (leasing) specified in part one of this Item, provisions of this Decree are applied from the date of its introduction in force regardless of entering into these agreements of changes according to this Decree.
The contracts of finance lease (leasing) signed before entry into force of this Decree and not specified in part one of this Item are not subject to reduction in compliance with this Decree and are effective before execution of all obligations by the parties on them.
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