Authorities are preparing changes to the Tax Code.
The other day the Ministry of Finance claimed that the mechanism was not yet found to reveal “unemployed” citizens (people, who receive shadow incomes, but are not officially employed) and impose taxes on them. Nevertheless, the fight on shadow economy will be continued at currency exchange offices.
According to BelaPAN, changes are planned to be introduced into Belarus’ Tax Code, which would provide fiscal inspections with the right to collect data on the population’s foreign exchange operations.
Until now such operations were under the secret of banking operations of physical persons. It is presumed that after the suggested changes are introduced, fiscal inspections as well as police will get the right to collect data on population’s purchases of foreign currency.
It is worth mentioning that in early 2014 changes have been introduced into the Tax Code, according to which, banks are now obliged to provide data on deposits and loans of physical persons upon request from fiscal inspection institutions. These changes have been introduced in order to reveal those, who live beyond one’s means (the people, whose expenses surpass their official incomes).
According to the Ministry of Taxation, in order to legalize shadow incomes physical persons would get a short-term loan in a bank, by which they explained to fiscal inspections the origin of money for expensive purchases.
In order to have the possibility to track the information on a credit contract, changes have been introduced that from 2014 oblige banks to provide fiscal agencies with data on loans and deposits of physical persons.
However, it appears that these data is not enough. That is why new changes are being prepared into the Tax Code, after the adoption of which fiscal inspections will have the right to collect data on the population’s foreign currency purchases.