Edict of the President of the Republic of Belarus

Edict of the President of the Republic of Belarus

No. 244 of July 8, 1996

 

On Promoting the Creation and Development in the Republic of Belarus of Industries Based on New and High Technologies

 

 

With the aim to reform the national economic complex through creation and development of industries based on new and high technologies, to create additional work places and to stimulate activity of national and foreign investors on the territory of the Republic of Belarus I decree:

 

1. To consider the enhancement of competitiveness of products produced by Belarusian  producers through creation and development of industries based on new and high technologies, attraction of national and foreign investments which ensure structural reforming and progress of economy to be the most important direction of the economic strategy of the Republic of Belarus for the period of 1996 - 2010.

 

2. The Cabinet of Ministers of the Republic of Belarus shall:

 

2.1. ensure in the period of 2 months the development of evaluation criteria for the new and high technologies, manufactures based on such technologies, high technological enterprises, and also the preparation of the list of priority directions of creation and development of new and high technologies, perspective industries based on such technologies for the period of 1996 – 2010;

 

2.2. provide the preferential taxation for the investments which are attracted for creation and development of industries based on new and high technologies while drafting the Tax Code of the Republic of Belarus, including establishment of tax preferences which enhance the development of financial market, the organization of export-oriented industries and scientific researches and attraction of investments from individuals and legal persons;

 

2.3. submit in the established order proposals to the President of the Republic of Belarus:

 

2.3.1. on changing the tax legislation in force providing measures of state support of development and industrial implication and implementation of new and high technologies, and also assistance to national and foreign investors, Belarusian legal entities regardless of the form of ownership, including the enterprises with foreign investments, concerning:

 

exemption of products and services produced with the application of new and high technologies from tax and custom duties for the period of 5 years, as well as profits of enterprises from any tax from the moment of their declaration (for the high technological enterprises);

 

reduction of tax rates on profits and the value-added tax;

 

exemption of products produced with the application of new and high technologies from excises or reduction of their rate;

 

exemption of manufactured products for the period of recoupment of capital investments from export duties or reduction of their rates;

 

exemption of imported to the territory of the Republic of Belarus raw materials, semi-finished products and equipment necessary for manufacturing the products from levying of the custom duties or reduction of their rates;

 

provision of the tax preferences to the banks and other financial organizations which ensure crediting, insurance and reinsurance of enterprises that make industrial implementation of new and high technologies or produce competitive products on their bases;

 

2.3.2. in the period of 2 months – on establishment for national and foreign investors which make capital investment in industries based on new and high technologies, of the long-term fixed tariff on water, electric and heat energy, and also fixed payments for land or granting them the right to acquire the property rights to a land plot for realization of investment project on creation and development of new and high technologies;

 

2.3.3. on the period of 3 months – on establishment of free economic zones in the area of the airport Minsk-2 and village Obchak to develop the export-oriented manufactures, including realization of joint Belarusian and American project “Ford Union”. To provide the concrete measures on creation of bank, financial and insurance infrastructure in these zones in the regulations on the mentioned zones and in the programs of their development;

 

2.4. provide the alienation of unused property of the Republic of Belarus, or renting it by the enterprises (organizations) in the order established by legislation, first of all, for the establishment on the territory of the Republic of Belarus of technoparks and other organizations realizing scientific and technical projects and programs.

 

3. In order to coordinate the activity of national and foreign investors on reforming the national economic complex of the country the Advisory Council on Investments at the President of the Republic of Belarus shall be established and it shall include the representatives of business of the republic and foreign states.

 

The Cabinet of Ministers shall in the period of 2 months submit to the President of the Republic of Belarus proposals on members, the status and the main directions of activity of the Advisory Council on Investments.

 

4. The present Edict shall come into force from the day of its publication.

 

 

 

*unofficial translation*