Belarus Can Provide Investors with New Benefits

25.11.2010 15:09

The Belarusian authorities are planning to provide investors with additional benefits. Appropriate amendments can be made to the presidential decree № 10 of August 6, 2009. This was stated by  the head of the main department of the standard-setting activities in the field of economy and ecology of the Belarusian Ministry of Justice Sergei Zadiran on November 25.

«Decree changes have been actively being prepared for about four months, followed by their approval by state agencies,» the representative of the Ministry of Justice said. In particular, we plan to make benefits, exempting investors from compensatory planting and plant removal collection costs, BelTA informs.

Another addition provides for the right of investors to apply the construction and technical standards similar to those, existing in the countries of the Customs Union or the European Union. «This is a very serious change. If it is approved, it will provide great interest to investors in construction projects — both residential and industrial,» Sergei Zadiran said.

It is also planned to introduce the benefit for deduction of VAT amount, paid on acquisition of goods, works and services and property rights, as well as exemption from conducting contracting and bidding procedures for public procurement, real estate tax, land tax and rent for the construction period.

In addition, the investors may be entitled to use free prices and tariffs. Also, legislators may approve a privilege to abolish fees in innovation funds, as well as tax exemptions in connection with the gratuitous transfer of property, provided for state property, granted for the investment.