Belarusians To Face Innovations In Currency Exchange, Pension Contributions
- 21.09.2024, 19:55
What will change in October?
In October, Belarus will introduce pension changes that concern insurance contributions to the Social Security Fund. Also, next month, an innovation will appear in currency exchange, and restrictions will be introduced for individual entrepreneurs. A ban on importing second-hand goods from the EU to Belarus should also come into force.
Zerkalo has compiled a selection of October changes that should affect the thickness of Belarusians' wallets.
Currency innovation
Changes will be introduced in currency exchange from October 26. For example, the National Bank stipulated that a cashier may not take cash currency from individual clients, “the demand for which is insignificant and the official exchange rate of the Belarusian ruble in relation to which is set by the National Bank monthly.” The regulator sets the exchange rate every month, for example, for the Azerbaijani manat, the Algerian and Iraqi dinar, the Hong Kong dollar, the Egyptian pound, the lari and others.
As now, an exchange office employee will not be able to refuse to sell foreign currency in cash that is in the cash register. The exception is if it is intended for issuing to individual clients from their accounts, as well as issuing to legal entities for business trip expenses. They can also refuse to exchange the currency that is intended for issuing change and making a conversion.
The National Bank has prescribed that information about exchange rates can be indicated on a special electronic board.
Pension changes
A pension innovation will also be launched on October 1 of this year. Thus, the authorities will expand the list of those who must make mandatory insurance contributions to the Social Security Fund. From this date, pension contributions to the Social Security Fund will become mandatory for artisans, owners of agricultural estates and the self-employed.
As previously specified by the Ministry of Labor, these Belarusians will make contributions to the Social Security Fund according to the same scheme as individual entrepreneurs:
payment of contributions — until March 1 of the following year;
contributions must be made only for the months in which the person works.
The amount of contributions is 29% of the self-determined income, but not less than the minimum wage. Let us recall that the minimum wage is currently 626 rubles. That is, the monthly contribution will be 181.54 rubles per month. For the year - 2178.48 rubles.
Restrictions for entrepreneurs
From October 1, Belarus will stop registering individual entrepreneurs for certain types of activities.
Let us recall that on July 1, the Council of Ministers approved a list of types of activities that they will be able to engage in and which they will not. For those not included in this list, it will not be possible to open a new individual entrepreneurship from October. Those who currently run an individual entrepreneurship in these types of activities will need to transition to a legal entity by December 31, 2025. Another option is to close down completely.
A blow to second-hand goods
A ban on importing second-hand goods from the EU to Belarus is set to come into force on October 1.
It is important to note that the EU sanctions, which were extended to Belarus at the end of June, made a splash among travelers. Many goods were banned — the list included more than 400 categories. The document did not limit the import of wardrobe items from the EU to Belarus, but banned “clothing and other used products.”
Discounts on travel on commuter trains for pensioners will no longer apply
Until the end of October, pensioners will be able to travel with a 50% discount on economy class regional trains. The benefit was introduced on May 1 — for the duration of seasonal agricultural work.