State Property Committee: Revaluation as of January 1, 2022 is not mandatory for enterprises

In accordance with Decree No. 622 of 20.10.2006, the revaluation of fixed assets is mandatory for all organizations concerning buildings, structures, and transmission networks, provided that the inflation rate in November of the reporting year reaches 100 percent or more compared to the date of the last revaluation.

Belstat reports that the inflation rate in November 2021 compared to December 2013 was 94.9%. Accordingly, revaluation is not mandatory, but may be carried out by decision of the organization or the owner of its property concerning all property or individual groups, using index, direct, or currency revaluation methods.

The last mandatory revaluation of fixed assets was carried out as of January 1, 2014.

Revaluation coefficients can be found at the link http://www.fondgosim.vitebsk.by/publications/per1221.pdf