On 1 October 2026, the Ministry of Finance of the Republic of Belarus released the average world market prices for precious metals for September 2026. These averages are derived from international trading platforms and serve as a critical reference for determining the taxable base for VAT, excise duties, and personal income tax on transactions involving precious metals within Belarus. The publication aligns with Article 174 of the Tax Code, which mandates the use of world market prices for valuation when domestic market prices are unavailable.
Key Takeaways
- Reference for Tax Calculations: The September 2026 average prices for gold, silver, platinum, and palladium must be applied by taxpayers and tax authorities for all tax calculations requiring world market valuations during the subsequent quarter.
- Impact on VAT and Customs: Importers and exporters of precious metals must use these averages to calculate customs value and import VAT where transaction prices are absent or deemed non-arm’s length.
- Quarterly Update Cycle: The Ministry publishes these averages monthly; taxpayers should monitor each release to ensure ongoing compliance with valuation requirements under Belarusian tax law.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement