The Law No. 330-Z of 30 December 2011 introduced a number of changes to chapter 14 (Corporate Income Tax) of the Tax Code. The changes, unless otherwise indicated, came into effect on 1 January 2012. The major changes are summarized as follows: -   The general rate of corporate income tax has been decreased from 24% to 18%. -   Thin capitalization rules have been introduced. The interest payable on a debt owed to a foreign parent company which, directly or indirectly, owns more than 20% of the shares in (i) a Belarusian subsidiary; or (ii) a Belarusian company that...