УКАЗ ПРЕЗИДЕНТА РЕСПУБЛИКИ БЕЛАРУСЬ

(Unofficial translation)

 

Edict of the President of the Republic of Belarus

No 465 of September 24, 2009

[Amended as of November 29, 2012]

On Some Issues of Improving Leasing Activity in the Republic of Belarus

With a view of improving the investment climate and creating conditions for the development of leasing in the territory of the Republic of Belarus:

1. To establish that:

1.1. [ineffective]

1.2. if goods being the objects of international leasing contracts (later on – leasing objects) are placed under the customs procedure of release for internal consumption, upon an application of the lessee – resident of the Republic of Belarus, by-installment payment of the value added tax is granted for the validity period of the leasing contract, but not more than five years. By-installment payment is granted provided that a security is given for the payment of the value added tax.

By-installment payment and payment of the interest are performed within its validity period quarterly in equal installments.

For granting of this by-installment payment, the interest is charged, calculated on the remaining sum of the by-installment payment in the amount of 1/360 of the refinancing rate of the National Bank effective on the day of payment of the value added tax for each day of the period passed from the date of beginning of the validity of by-installment payment (for the first installment of the value added tax) or from the date of payment of the previous installment (for the second and consecutive installments). Sums of the interest are paid simultaneously with payments made by installments;

1.3 upon the expiration of the international leasing contract (including in connection with its rescission), the lessor is obliged to ensure the return of the leasing object or the termination of obligations, in a monetary or nonmonetary form, which arise in connection with the transfer of the leasing object to the lessee – nonresident of the Republic of Belarus, unless otherwise is established in parts three and eleven of this sub-clause.

In this case, ways of nonmonetary termination of obligations are determined by the Council of Ministers of the Republic of Belarus jointly with the National Bank.

Within 90 calendar days from the day of termination of an international leasing contract (including in connection with its rescission) the lessor is entitled to conclude a new foreign trade contract stipulating the alienation of the leasing object or its transfer into lease. Within the said time limit the return of the leasing object into the territory of the Republic of Belarus is not made.

When the leasing object is returned in connection with the termination of an international leasing contract (including in connections with its rescission), the lessor is obliged to ensure the receipt of the leasing object in the territory of the Republic of Belarus not later than 90 calendar days from the date or rescission of the leasing contract or the termination of the leasing period. The date of receipt of the leasing object into the territory of the Republic of Belarus is considered to be the date of placement of the leasing object under the customs procedures specified by the Customs Code of the Customs Union, or the date of accepting the leasing object for accounting in the established order, if the customs clearance is not performed in accordance with legislation.

If, the international lease contract stipulates the right to buyout of the leasing object, transaction on buyout of the leasing object is formalized as a separate foreign trade contract.  The lessor is obliged to ensure the termination of obligations under the said contract, both in a monetary and in a nonmonetary form not later than 90 calendar days from the date of conclusion of the said foreign trade contract.

Formalizing the buyout of the leasing object as a separate foreign trade contract is not performed, if the international leasing ends with the transfer of the leasing object into the ownership to the lessee – non-resident of the Republic of Belarus, within the framework of the international leasing contract due to the fact that the value of the leasing object has been fully offset by the sum of leasing payments.

Unless otherwise established in part twelve of this sub-clause, the lessor is obliged to ensure the receipt of each leasing payment not later than 90 calendar days from respective date of such payment, established in the international leasing contract, with the exception of monetary means directed for payment of taxes according to the legislation of the foreign state and monetary means directed for payment of obligations before the banks, including banks – non-residents of the Republic of Belarus (except for obligations on payment of a commission fee to a bank serving the account of the lessor in the Republic of Belarus and obligations on contracts concluded with banks and stipulating than banks carry out activity for their own needs).

In this case, the date of receipt of monetary means (leasing payments) is considered to be the date of their crediting to the account of the lessor in the bank of the Republic of Belarus.

The running of time limits for the fulfilling of obligations established in this subclause, is suspended from the date of:

acceptance of the lessor’s request for consideration  by court or arbitral bodies for the enforced recovery of overdue indebtedness of the lessee – non-resident of the Republic of Belarus under the leasing contract or for enforced recovery of the leasing object from the lessee – non-resident of the Republic of Belarus;

acceptance for consideration by authorized bodied of the lessor’s application for recognition and enforced execution or for enforced execution of court decisions or arbitration awards or other acts subject of enforced execution in accordance with the legislation of the state in the territory of which the enforced executions is taking place about the recovery of the indebtedness of the lessee – non-resident of the Republic of Belarus under the international leasing contract or about the recovery of the leasing object from the lessee – non-resident of the Republic of Belarus;

acceptance by the insurer of the lessor’s application about the occurrence of the covered event on an insured risk under the international leasing contract;

initiation by an authorized body in relation to the lessee – non-resident of the Republic of Belarus of a case on economic insolvency (bankruptcy) or about the opening of the liquidation proceedings in relation to it.

The running of time limits is resumed from the date of:

entry into legal force of a court decision or arbitration award, in accordance with which the lessor’s application about recovery of the indebtedness of the lessee – non-resident of the Republic of Belarus under the international leasing contract or about the recovery of the leasing object from the lessee – non-resident of the Republic of Belarus has been satisfied;

the decision of authorized bodied to deny the lessor to recognize or enforce the execution or to enforce the execution of court decisions or arbitration awards or other acts subject of enforced execution in accordance with the legislation of the state in the territory of which the enforced executions is taking place about the recovery of the indebtedness of the lessee – non-resident of the Republic of Belarus under an international leasing contract or about the recovery of the leasing object from the lessee – non-resident of the Republic of Belarus on the grounds not connected with impossibility of  the execution;

decision of the insurer to deny to payment of the insurance compensation on the insured risk under the international leasing contract;

termination by an authorized body in relation to the lessee – non-resident of the Republic of Belarus of a case on economic insolvency (bankruptcy) or about the termination of the liquidation proceedings in relation to it.

The duties of the lessor established in part one of this sub-clause are terminated from the date of:

the decision of authorized bodied to deny the lessor to recognize or enforce the execution or to enforce the execution of court decisions or arbitration awards or other acts subject of enforced execution in accordance with the legislation of the state in the territory of which the enforced executions is taking place about the recovery of the indebtedness of the lessee – non-resident of the Republic of Belarus under an international leasing contract or about the recovery of the leasing object from the lessee – non-resident of the Republic of Belarus on the grounds connected with impossibility of  the execution;

full payment by the insurer of the insurance compensation on the insured risk under the international leasing contract;

the decision of an authorized body about recognizing the lessee – non-resident of the Republic of Belarus economically insolvent (bankrupt) if it entailed the impossibility to return the leasing object or satisfaction of demands of the lessor arising out of the international leasing contract in another form;

the decision of an authorized body to exclude the lessee – non-resident of the Republic of Belarus from the state register of organizations (payers) in the country of registration, which entailed the impossibility to return the leasing object or satisfaction of demands of the lessor arising out of the international leasing contract in another form;

the decision of an authorized body to confiscate (to seize otherwise) from the lessor or the lessee – non-resident of the Republic of Belarus the leasing object in accordance with the legislation of the state in the territory of which the confiscation (another seizure) of the leasing object has occurred.

The duties of the lessor established in part seven of this sub-clause are terminated from the date of:

the decision of authorized bodied to deny the lessor to recognize or enforce the execution or to enforce the execution of court decisions or arbitration awards or other acts subject of enforced execution in accordance with the legislation of the state in the territory of which the enforced executions is taking place about the recovery of the indebtedness of the lessee – non-resident of the Republic of Belarus under an international leasing contract on the grounds connected with impossibility of  the execution;

full payment by the insurer of the insurance compensation on the insured risk under the international leasing contract;

the decision of an authorized body about recognizing the lessee – non-resident of the Republic of Belarus economically insolvent (bankrupt) if it entailed the impossibility to satisfy the demands of the lessor arising out of the international leasing contract;

the decision of an authorized body to exclude the lessee – non-resident of the Republic of Belarus from the state register of organizations (payers) in the country of registration, which entailed the impossibility to return the leasing object or to satisfy the demands of the lessor arising out of the international leasing contract;

the decision of an authorized body to confiscate (to seize otherwise) the leasing object in accordance with the legislation of the state in the territory of which the confiscation (another seizure) of the leasing object has occurred, which entailed the termination of the obligations of the lessee – non-resident of the Republic of Belarus to pay leasing payments.

Parts one and two of this sub-clause are in force till the entry into force of the Law of the Republic of Belarus on introducing respective changes and/or additions into the Code of the Republic of Belarus on Administrative Offences and/or the Procedural Executive Code of the Republic of Belarus on Administrative Offences.

2. This Edict does not cover leasing contracts concluded prior to its entry into force. These contracts are effective within the term specified in them and are not subject to being brought into accordance with the requirements of this Edict.

3. The Council of Ministers of the Republic of Belarus, within six months after the entry into force of this Edict, shall ensure:

the submission in the established manner to the House of Representatives of the National Assembly of the Republic of Belarus, of draft laws providing for bringing the Code of the Republic of Belarus on administrative offences and the Procedural Executive Code of the Administrative Offences of the Republic of Belarus into accordance with this Edict;

bringing of other acts of legislation in accordance with this Edict and take necessary measures on its implementation.

4. This Edict enters into force after its official publication.

5. To impose the control over the implementation of this Edict on the Committee of State Control.

 

President of the Republic of Belarus

A. Lukashenko

 

* unofficial translation *