Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of October 15, 2015 No. 422

About submission of information to tax authorities of foreign states

For the purpose of creation of conditions for informing tax authorities of foreign states with which the Republic of Belarus signs the international contracts on improvement of observance of the international tax rules:

1. Determine that:

1.1. for the purposes of this Decree terms and their determinations are used in the following values:

the account holder (the client under the agreement) - the foreign organization or the foreign physical person having open accounts, the signed contracts in financial institutions of the Republic of Belarus;

the agreement - conforming to the requirements determined by the agreement, and concluded (concluded) by financial institution of the Republic of Belarus with the organization or physical person or in their advantage bank deposit agreement (deposit), the agreement of the current (settlement) bank account, the depositary agreement, the agreement of the voluntary insurance relating to life insurance or other agreement, submission of information concerning which is provided by the agreement;

the foreign organization - the organization created according to the legislation of foreign state or the other person who is not the foreign physical person concerning which the agreement provides submission of information on accounts (agreements);

foreign state - the state in which the legislation on tax control of accounts in financial institutions of foreign states is effective and with which the Republic of Belarus signs the agreement;

the foreign physical person - the citizen (subject) foreign state and (or) physical person - the tax resident of foreign state concerning which the agreement provides submission of information on accounts (agreements);

information on accounts (agreements) - information, including the component the bank and (or) protected by legal acts other secret represented by financial institutions of the Republic of Belarus to tax authorities of foreign state through the Ministry of Taxes and Tax Collection for the purpose of accomplishment of agreement obligations, containing the data provided by the agreement including the identification information about account holders (clients under agreements), data on the accounts (the signed agreements), remaining balance of means on them opened by them, total amount of the income (payments) for each of them;

the client - the organization or physical person having open accounts, the signed contracts in financial institutions of the Republic of Belarus;

the agreement - the interstate or intergovernmental agreement of the Republic of Belarus providing representation to tax authorities of foreign state of information on accounts (agreements) for the purpose of improvement of observance of the international tax rules and implementation of the legislation of such foreign state on tax control of accounts in financial institutions of foreign states;

the account - conforming to the requirements determined by the agreement, the bank account, the non-bank credit and financial organization of the Republic of Belarus, "Development Bank of the Republic of Belarus" open joint stock company the account of "depot" in depositary of the Republic of Belarus opened (opened) for the organization or physical person;

financial institutions of the Republic of Belarus - banks, the non-bank credit and financial organizations, "Development Bank of the Republic of Belarus" open joint stock company, professional participants of the security market, the insurance companies performing the types of voluntary insurance relating to life insurance;

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