The Belarus Ministry of Taxes and Duties recently published guidance on the various tax changes for 2025. Some of the main changes include the following: It is established (clarified) that a branch of a foreign organization constitutes a permanent establishment, which is consistent with the permanent establishment provisions of international tax treaties; New limitations on the investment deduction are introduced where the assets' depreciation begins on or after 1 January 2025, including: the investment deduction may not be applied by budget organizations, public associations, religious organizations, and other non-profit organizations created in accordance with the law, except for consumer cooperative...