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BELARUS ALMANACH 2021 Successful Together BELARUS ALMANACH 2021 Successful together 1 Successful together “To succeed in your projects you need a dependable and reliable partner. We share your corporate values and we have the skills to accompany you in your development. Our extensive experience enables us to provide you with expert and specialised advice in all phases of your business.” Rödl & Partner BELARUS 2021 ALMANACH Successful together Table of contents Belarus 6 Demographics 8 Infrastructure 10 Largest cities 11 Country ratings 13 Currency 14 Inflation 15 Growth 16 Trading partners 21 Foreign direct investments 22 Turnover with Germany 24 Public holidays 25 Law 26 Establishing a company 26 Employment 30 Preferential frameworks 35 Insolvency 40 Signing of contracts 43 Securing of receivables 48 Legal disputes 50 Taxes 55 Tax rates 55 Value added tax 61 Corporate income tax 62 Avoidance of double taxation 64 Tax deadlines 68 Transfer pricing 70 Accounting 73 Audit 74 Key contacts 75 About us 78 Rödl & Partner in Belarus 80 Belarus Minsk 7 DEMOGRAPHICS POPULATION (THOUSAND OF PEOPLE)* EMPLOYMENT (THOUSAND OF PEOPLE) approx. 9,408.4 2020 Population: 9,408.4 AREA Labour force (Q2): 5,068.7 (54 %) 207,600 km2 Employed part: 4,855.9 (96 %) POPULATION DENSITY Unemployed part: 212.8 (4 %) approx. 45.5 inhabitants per km2 2019 GENDER RATIO (THOUSAND OF PEOPLE) Population: 9,475.0 Women: 5,059 (54 %) Labour force: Men: 4,349 (46 %) 5,122.4 (54 %) Employed part: POPULATION BY AGE GROUP (THOUSAND OF PEOPLE) 4,909.1 (96 %) Age 0 to 14 Unemployed part: 1,592 (17 %) 213.3 (4 %) Age 15 to 44 3,719 (40 %) 2018 Population: Age 45 to 64 9,492 2,646 (28 %) Labour force: Age 65 and over 5,141.6 (54 %) 1,450 (15 %) Employed part: 4,896.7 (95 %) LIVING AREA (THOUSAND OF PEOPLE) Unemployed part: Urban 244.9 (5 %) 7,303.8 (78 %) 2017 Rural Population: 2,104.6 (22 %) 9,505 Labour force: *Population as of 1 January 2020, taking into account the results of the 2019 population census 5,195.3 (55 %) Employed part: 4,901.8 (94 %) Unemployed part: 293.4 (6 %) SOURCE The official website of the National Committee on Statistics of the Republic of Belarus 8 POPULATION (THOUSAND OF PEOPLE)* EMPLOYMENT (THOUSAND OF PEOPLE) approx. 9,408.4 2020 Population: 9,408.4 AREA Labour force (Q2): 5,068.7 (54 %) 207,600 km2 Employed part: 4,855.9 (96 %) POPULATION DENSITY Unemployed part: 212.8 (4 %) approx. 45.5 inhabitants per km2 2019 GENDER RATIO (THOUSAND OF PEOPLE) Population: 9,475.0 Women: 5,059 (54 %) Labour force: Men: 4,349 (46 %) 5,122.4 (54 %) Employed part: POPULATION BY AGE GROUP (THOUSAND OF PEOPLE) 4,909.1 (96 %) Age 0 to 14 Unemployed part: 1,592 (17 %) 213.3 (4 %) Age 15 to 44 3,719 (40 %) 2018 Population: Age 45 to 64 9,492 2,646 (28 %) Labour force: Age 65 and over 5,141.6 (54 %) 1,450 (15 %) Employed part: 4,896.7 (95 %) LIVING AREA (THOUSAND OF PEOPLE) Unemployed part: Urban 244.9 (5 %) 7,303.8 (78 %) 2017 Rural Population: 2,104.6 (22 %) 9,505 Labour force: 5,195.3 (55 %) Employed part: 4,901.8 (94 %) Unemployed part: 293.4 (6 %) SOURCE The official website of the National Committee on Statistics of the Republic of Belarus 9 INFRASTRUCTURE AIRPORTS BREST AIRPORT Address: 224004, Airport, the village of Telmy, Brest district, Brest region + 375 162 9723 25 + 375 162 9721 81 www.ban.by [email protected] VITEBSK VOSTOCHNY AIRPORT Address: 210035, P.O.B. 36, Airport, Vitebsk +375 212 2043 03 +375 212 2043 11 www.ban.by [email protected] GOMEL AIRPORT Address: 247012 Airport, the agrotown of Pokolyubichi, Gomel district, Gomel region. +375 232 9641 00 +375 232 9641 01 www.ban.by [email protected] GRODNO AIRPORT Address: 231766, Airport, the agrotown of Obukhovo, Grodno district, Grodno region +375 152 7315 07 +375 152 7315 15 www.ban.by [email protected] MOGILEV AIRPORT Address: 213125, Airport, the village of Lubnyshche, Mogilev district, Mogilev region +375 222 2995 00, +375 222 2995 01 www.ban.by [email protected] MINSK NATIONAL AIRPORT 220054, Minsk, National Airport Minsk district, Minsk region +375 17 2791 300 +375 17 2791 730 www.airport.by [email protected] ROADS 86,967 km RAILWAYS 5,480 km 10 LARGEST CITIES AIRPORTS LARGEST CITIES (THOUSAND OF PEOPLE)* BREST AIRPORT MINSK Address: 224004, Airport, the village of Telmy, 2,020.6 Brest district, Brest region GOMEL + 375 162 9723 25 510.3 + 375 162 9721 81 www.ban.by [email protected] MOGILEV 357.1 VITEBSK VOSTOCHNY AIRPORT GRODNO Address: 210035, P.O.B. 36, Airport, Vitebsk 356.9 +375 212 2043 03 VITEBSK +375 212 2043 11 364.8 www.ban.by [email protected] BREST GOMEL AIRPORT 339.7 Address: 247012 Airport, the agrotown of Pokolyubichi, Gomel district, Gomel region. BOBRUISK +375 232 9641 00 212.2 +375 232 9641 01 BARANOVICHI www.ban.by [email protected] 175.0 GRODNO AIRPORT BORISOV Address: 231766, Airport, the agrotown of Obukhovo, 140.7 Grodno district, Grodno region PINSK +375 152 7315 07 126.3 +375 152 7315 15 www.ban.by [email protected] SOURCE MOGILEV AIRPORT Address: 213125, Airport, the village of Lubnyshche, The official website of the National Committee on Statistics of the Republic of Belarus Mogilev district, Mogilev region +375 222 2995 00, +375 222 2995 01 www.ban.by [email protected] *Preliminary data on the population as of 1 January 2020 in the context of cities, taking into account the results of the 2019 population census MINSK NATIONAL AIRPORT 220054, Minsk, National Airport Minsk district, Minsk region +375 17 2791 300 +375 17 2791 730 www.airport.by [email protected] ROADS 86,967 km RAILWAYS 5,480 km 11 MINSK 12 COUNTRY RATINGS MOODY’S COUNTRY RATING B3 COFACE COUNTRY RATING C (high risk) ECONOMIC ENVIRONMENT COFACE B (stable) CORRUPTION PERCEPTIONS INDEX (CPI) where 100 points is “very clean” and 0 points is “highly corrupt” 47 (63rd place as of 2020) WORLD BANK EASE DOING BUSINESS RANKING (2020) 49 13 CURRENCY CURRENCY Belarusian Ruble (BYN) 18 INTRODUCED 16 1 July 2016 INFLATION RATES 14 2013: 16.5 % 2014: 16.2 % 12 2015: 12.0 % 2016: 10.2 % 10 2017: 4.6 % 2018: 5.6 % 8 2019: 4.7 % 2020: 7.4 % 6 SOURCE 4 The official website of the National Bank of the Republic of Belarus 2 0 2013 2014 2015 2016 2017 2018 2019 2020 GDP per capita in EUR 14 INFLATION Inflation rate in Belarus CURRENCY Belarusian Ruble (BYN) 18 INTRODUCED 16 1 July 2016 INFLATION RATES 14 2013: 16.5 % 2014: 16.2 % 12 2015: 12.0 % 2016: 10.2 % 10 2017: 4.6 % 2018: 5.6 % 8 2019: 4.7 % 2020: 7.4 % 6 SOURCE 4 The official website of the National Bank of the Republic of Belarus 2 0 2013 2014 2015 2016 2017 2018 2019 2020 GDP per capita in EUR 15 GROWTH 70000 60000 50000 40000 30000 20000 10000 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 GDP level (EUR Mio) 16 GDP 20,00 15,00 10,00 5,00 0,00 2012 2013 2014 2015 2016 2017 2018 2019 2020 -5,00 -10,00 -15,00 -20,00 GDP (changes in %) 17 GDP (PER CAPITA IN EUR) GDP PER CAPITA IN EUR 2013 6,000 2014 6,260 2015 5,370 2016 4,542 2017 5,100 2018 5,329 2019 5,972 2020 5,210 SOURCE The official website of the National Committee on Statistics of the Republic of Belarus 18 GDP (PER CAPITA IN EUR) GDP PER CAPITA IN EUR 7.000,00 2013 6,000 6000,00 2014 5.000,00 6,260 2015 4.000,00 5,370 2016 3.000,00 4,542 2.000,00 2017 5,100 1.000,00 2018 0,00 5,329 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2019 GDP per capita in EUR 5,972 2020 5,210 SOURCE The official website of the National Committee on Statistics of the Republic of Belarus 19 STRUCTURE OF ECONOMY Structure of economy 2020 (GDP, share in %) 6.8 % 12.8 % EUROPEAN TRADING PARTNERS AND USA 7.3 % 21.5 % 5.1 % 9.4 % 2.8 % 5.8 % 0.5 % 0.7 % Agriculture, forestry and fisheries Processing industry Mineral industry Supply of electricity, gas, steam, hot water Water supply; collection, processing and waste disposal Сonstruction Wholesale and retail trade; vehicle repair Transport activities, warehousing, postal activities Information and communication Net taxes 20 TRADING PARTNERS MAIN TRADING PARTNERS Country Import, share in % Export, share in % 1) Russian Federation 49.77 45.56 2) Ukraine 4.37 10.81 3) China 11.60 2.61 EUROPEAN TRADING PARTNERS AND USA Belarus: Export, Import (2020, Share in %)* 5.15 % Germany 3.07 % 3.90 % Poland 4.25 % 2.10 % Italy 0.31 % 1.78 % USA 0.61 % 1.21 % Netherlands 1.72 % 1.13 % Lithuania 3.64 % 0.94 % France 0.41 % Czech 0.68 % 0.42 % 0.63 % United Kingdom 3.17 % Norway 0.58 % 0.46 % Belgium 0.57 % 0.51 % Latvia 0.28 % 1.05 % Moldova 0.22 % 0.46 % Estonia 0.21 % 0.32 % 0 2 4 6 Import share Export share *Data are for January-October 2020 21 FOREIGN DIRECT INVESTMENT Foreign direct investment on a net basis (EUR M) 1.600 1.400 1.200 1.000 800 600 400 200 0 2015 2016 2017 2018 2019 2020* Forein direct investment on a net basis (EUR M) Net inflow of foreign direct investment (EUR M) 1.600 1.400 1.200 1.000 800 600 400 200 0 2015 2016 2017 2018 2019 Net inflow of foreign direct investment (EUR M) *Data for January-September 2020 22 COUNTRY OF ORIGIN OF DIRECT INVESTMENT Countries of origin of foreign direct investment in 2020 (share in %) Russian Federation 46.3 % Other countries 19.9 % Cyprus 11.6 % Great Britain 8.7 % Ukraine 6.3 % Lithuania 3.9 % Netherlands 3.3 % 0,0 10,0 20,0 30,0 40,0 50,0 *Data for January-September 2020 23 TURNOVER WITH GERMANY IN 2019 (EUR M) TRADE TURNOVER WITH GERMANY (YEAR-OVER-YEAR CHANGE IN %) 2,710.4 (-7 %) IMPORTS FROM GERMANY (YEAR-OVER-YEAR CHANGE IN %) 1,541.9 (-5 %) EXPORTS TO GERMANY (YEAR-OVER-YEAR CHANGE IN %) 1,168.5 (-10 %) BALANCE -373.3 SOURCE http://germany.mfa.gov.by/ 24 PUBLIC HOLIDAYS TRADE TURNOVER WITH GERMANY (YEAR-OVER-YEAR CHANGE IN %) BELARUS 2,710.4 (-7 %) 1 January 2021 New Year’s Day IMPORTS FROM GERMANY (YEAR-OVER-YEAR CHANGE IN %) 7 January 2021 Eastern Orthodox Christmas 1,541.9 (-5 %) 8 March 2021 International Women’s Day EXPORTS TO GERMANY (YEAR-OVER-YEAR CHANGE IN %) 1 May 2021 Labour Day 1,168.5 (-10 %) 9 May 2021 Victory Day BALANCE 11 May 2021 Commemoration day (movable date) -373.3 3 July 2021 Independence Day (Republic Day) SOURCE 7 November 2021 October Revolution Day http://germany.mfa.gov.by/ 25 December 2021 Catholic Christmas 25 Law 3.
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