Today is the last day for the payment of personal income tax for 2010

May 16, Minsk /BELTA/. Today is the last day for paying personal income tax for 2010, BELTA was informed by the Ministry of Taxes and Duties of Belarus. "The legally established deadline for paying personal income tax calculated from income declared by citizens in submitted tax returns is May 15, 2011. However, considering that this deadline fell on a weekend, the last day for tax payment has been moved to the first working day after the weekend, i.e., May 16, 2011," the ministry explained. Personal income tax can be paid in any way convenient for the taxpayer: through banks, info kiosks, post offices, as well as in cash at the tax authority. The legally established deadline for paying personal income tax cannot be postponed to another date. For non-payment (or incomplete payment) of personal income tax to the budget, the taxpayer bears responsibility established by law. This year, over 23,000 individuals submitted income tax returns for income received in 2010, which is 13,000 less compared to the same period last year. The decrease in the number of individuals submitting such tax returns is primarily due to the cancellation of the obligation for citizens to declare income received from other individuals as gifts during 2010, if the amount of such income did not exceed Br17.5 million. As a reminder, individuals who are tax residents of the Republic of Belarus and received taxable income were obliged to submit income tax returns for income received in 2010 no later than March 1, 2011. This includes income from other individuals (including from the sale of a second apartment, second garage, second land plot within 5 years; from the sale of a truck, bus, second car within a calendar year; from the sale of shares to another individual; income in the form of gifts exceeding Br17.5 million (500 basic units) per year; income from abroad and/or outside the Republic of Belarus; income exceeding the limits established by the Tax Code that are not subject to taxation; income in the form of refund of contributions, including indexed ones in the manner prescribed by law, upon termination of construction of apartments and/or individual residential buildings, as well as upon withdrawal from the membership of developer organizations before the completion of construction – in case of applying the property tax deduction related to the construction and/or acquisition of housing to the amounts of such contributions; income in the form of refund of insurance premiums upon termination of voluntary life and additional pension insurance contracts concluded for a period of five or more years before the expiration of the five-year period – in case of applying the social tax deduction related to the conclusion of the above-mentioned insurance contracts to the amounts of such contributions; other income from which tax withholding is not assigned to tax agents. Individuals who have been physically present in the territory of the republic for more than 183 days in a calendar year are recognized as tax residents of Belarus. Individuals who have been physically present outside the territory of the Republic of Belarus for 183 days or more in a calendar year are not recognized as tax residents of Belarus.-0-