On 1 October 2026, the Ministry of Finance of the Republic of Belarus approved new calculation prices for precious metals accepted into the State Fund of Belarus. These prices serve as the official valuation benchmark for customs duties, value-added tax (VAT), and other fiscal calculations involving gold, silver, platinum, and palladium. The update reflects recent fluctuations on global commodity markets and aligns domestic valuation with international pricing standards. The measure is enacted pursuant to the Ministry’s regulatory authority under the Tax Code and the Law on Precious Metals and Gemstones.
Key Takeaways
- Revised Valuation Benchmarks: The new calculation prices replace the previous rates set in April 2026 and will be used by customs authorities and tax inspectors to determine the taxable base for imports, exports, and domestic transactions involving precious metals.
- Impact on VAT and Customs Duties: Enterprises engaged in precious metals trading must adjust their accounting systems to apply the updated prices for VAT invoice purposes and customs declarations starting 1 October 2026.
- Compliance Deadline: Affected businesses should immediately review their pricing models and ERP configurations to ensure accurate tax reporting for the fourth quarter of 2026.
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