On September 23 President of Belarus issued a decree № 484 "On recognition of the Decree of the President of the Republic of Belarus of February 5, 1997 № 132". As it was told in the administration of Alexander Lukashenko, the decree is adopted in order to liberalize economic activity and to simplify bookkeeping.
In addition, it is believed in the Presidential Administration that the decree will contribute to convergence of national legislation with international financial reporting standards.
Apart from this, the recognition of the invalid decree of February 5, 1997 № 132 repealed the right, stated in this document, to let the Government determine the composition of costs included in cost of products (works, services), as well as the way of wages payment to legal persons, based on state ownership.
«Now the main provisions on the composition of costs included in cost of products (works, services), previously approved by the joint resolution of the relevant ministries, will be only advisory in nature. Thus organizations will be able to determine the methodology for the formation of product cost themselves,» the President’s Administration noted.
According to the signed decree, the production cost price (works, services), in respect of which the state regulation of prices (tariffs) is being implemented, will be formed in accordance with the laws regulating the issues of pricing.
As it was explained by the administration of the Belarusian leader, abolition of the right, established by the decree of the Belarusian President on February 5, 1997 № 132, for the Government to determine the order of wages payment to legal persons, based on state ownership, is connected with the fact that the main elements of this order are included at present in the legislative acts of higher legal force.
The decree comes into force after its official publication.
