The head of "Alliance Group" of consultants, Vladimir Nesmashni, told Telegraf about how Belarusians can save in the current economic situation. "Severe currency crisis deprives of the chance to earn, but let's see, how it is possible to save today? For wherever there is need for foreign currency payments, we immediately get internally strained, since currency purchase is easy to implement, but the question is what "pretty penny" should be paid on the interbank market," the economist said.
«So we’ve decided to conduct some research to find out where the payments in Belarusian rubles at the rate of the National Bank are left. To this end, we have watched more than a thousand legal documents, showing the application of the National Bank of Belarus’s rate. We haven’t studied current documents on possible currency purchase to pay for imported drugs and to repay foreign currency loans as it relates to measures of short-term management of the foreign exchange market, but we are interested in the constant values,» said Vladimir Nesmashni.
According to him, no attention has been drawn to the issues such as accounting of foreign currency debt and reflection of liabilities in foreign currencies, as here, «we incur losses, on the contrary, by buying more expensive currency to pay.» Vladimir Nesmashni noted that, based on the results of the study, it’s possible to save on payments in Belarusian rubles at the rate of National Bank in case of import customs duties and other charges for customs clearance, calculated in foreign currency.
In addition, you can save in case of calculating the tax base for VAT in sale of property for foreign currency. «This is not direct saving, but de facto implies a reduction of tax payments in Belarusian ruble against the amount, actually received from the currency sale on the interbank received from the sale of objects,» said Vladimir Nesmashni.
You can also save on the payment of state fees for filing a claim in foreign currency or the laying on residents of spending on state tax paid by non-resident when filing a claim.
Vladimir Nesmashni cited the example of other options when you can save on payments in Belarusian rubles at the rate of National Bank:
— Recovery of Belarusian rubles from a resident in the court to repay foreign currency obligations; the debt reflection in the formation of the claims register in bankruptcy proceedings under liabilities in foreign currency; payment of patent fees, authorized by the Belarusian resident for non-residents;
— Resident’s payment of fees and other expenses in proceedings at the International Arbitration Court of the BCCI (the Belarusian Chamber of Commerce), as well as the resident’s introduction of the share fund set up with the company’s non-resident;
— Services within the Department of the Ministry of Internal Affairs of Belarus on support (mandatory support) of goods and vehicles, including under the customs control, transported through the territory of the Republic of Belarus by road;
— The fee for a outdoor advertising passport (in accordance with the decisions of local executive bodies);
— Implementation of the objects of municipal property at auction to sell them to non-residents (in accordance with the decisions of local executive bodies);
— Compensation payment for lost luggage during transport by air;
— Rent, leasing and other fees, if the application rate of the National Bank of Belarus is set by the contract and there have been no changes in exchange rate settings different from the rate of the National Bank of the Republic of Belarus.
«Let’s leave it without commentary the fact that there’re exactly 13 points here. Our study might be of use. It is unlikely to become your source of income to save money in the situation of its extreme shortage, but may affect the financial results of operations, as well as give an opportunity to assess financial loss in the above cases,» concluded Vladimir Nesmashni.
