# The Double Taxation Relief (Taxes on Income) (Belarus) Order 1995, Paragraph 4: Interest Payable By A Company Or Other Taxable Entity Which Is A Resident Of A Contracting State


In computing tax payable on its profits, there shall be allowed, to a company or other taxable entity which is a resident of a Contracting State and which is at least 50 per cent owned by a resident or residents of the other Contracting State, a deduction for interest incurred for the purpose of its trade or business whether paid to a bank or other person and without regard to the period of the loan, but that deduction shall not be available to the extent that the interest paid exceeds, for whatever reason, the amount which would have been agreed upon in the absence of a special relationship between the payer and the beneficial owner of the interest.

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Source: https://www.legislation.gov.uk/uksi/1995/2706/schedule/paragraph/4 (the official version)
Page: https://openlegislation.uk/double-taxation-relief-taxes-on-income-belarus-order-1995/schedule/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.