This report provides a summary of regulatory updates on taxation, accounting and financial reporting, corporate regulations, and migration and labor law.

Decree No. 285 of September 13, 2023 “On Special Accounts” (hereinafter, Decree No. 285) determines the procedure for using special accounts for the payment of dividends to foreign shareholders (and owners of the property of unitary enterprises) from “unfriendly countries”.

A new version of Law No. 225-Z of the Republic of Belarus of 30 December 2010 “On Foreign Labor Migration” (the “Law on Foreign Labor Migration”) entered into force on 1 July 2023. Some of the changes affect the procedure for obtaining and canceling a special work permit (“work permit”).

B1 Audit Services LLC and B1 Digital LLC were recognized as an ACCA Approved Employer in two streams: Professional Development and Trainee Development.

This report brings you an overview of the tax system and preferential regimes, corporate forms and business practices, external administration, employment relations, migration law, and accounting and financial reporting principles applicable in the Republic of Belarus.

Law No. 239-Z of the Republic of Belarus “On Placement in Temporary External Administration” adopted on 3 January 2023 permits placing legal entities in temporary external administration. The Law will enter into force on 17 January 2023.

One the one hand, closure of a representative office of a foreign company (hereinafter, “Rep Office”) in Belarus is not subject to as high a number of detailed rules as liquidation of a commercial company.

EY Belarus announces that on 1 July 2022 it will join the В1 network (in Russian, Б1). B1, a successor of EY Russia, now operates in Russia as an independent group of assurance and consulting firms separate from the EY global network.