(Unofficial translation)

 

Decree of the President of the Republic of Belarus

No 10 of August 6, 2009

[Amended as of November 12, 2015]

On Creation of Additional Conditions for Carrying Out Investments in the Republic of Belarus

 

With a view of creating additional conditions for carrying out investments in the Republic of Belarus and in accordance with part three of Article 101 of the Constitution of the Republic of Belarus:

1. To establish that:

1.1. investment contract between an investor (investors) and the Republic of Belarus (hereinafter – investment contract) may be concluded only for purposes of implementation in the territory of the Republic of Belarus of an investment project corresponding to a priority activity (sector of the economy) for carrying out investments (hereinafter – investment project) in the order and on conditions determined by this Decree and other acts of legislation.

priority activities (sectors of the economy) for carrying out investments are determined by the Council of Ministers of the Republic of Belarus;

1.2. an investment contract is to be concluded on the basis of a decision of:

a republican body of state administration, other state organization subordinated to the Government of the Republic of Belarus, Administration of Affairs of the Republic of Belarus (hereinafter unless otherwise provided – state body), a regional (Minsk City) executive committee (hereinafter, unless otherwise provided – executive committee), unless such an investment contract stipulates granting to the investor (investors) and/or an organisation implementing the investment project* (hereinafter – organisation) additional privileges and/or preferences, except for those established by this Decree, other acts of legislation;

the Council of Ministers of the Republic of Belarus upon obtaining consent of the President of the Republic of Belarus if the given investment contract stipulates granting to the investor (investors) and/or the organisation privileges and preferences, not established by this Decree, other acts of legislation. That decision of the Council of Ministers of the Republic of Belarus shall determine the state body or executive committee, authorized to sign such an investment contract, and also, if necessary, the order of confirming the right to applying the said privileges and/or preferences.

For conclusion of an investment contract specified in indent three of this sub-clause, it is required to submit a business-plan of the investment contract and to hold a state complex expert examination of the investment project in the order established by the Council of Ministers of the Republic of Belarus.

The state body, executive committee shall, fur purposes of obtaining data necessary for adoption of the decision on conclusion of the investment contract, carry out interaction with other state bodies, executive committees, including by means of sending a respective request the time limit for informing on which must not exceed ten calendar days.

The order of conclusion, modification and termination of investment contracts in the part not regulated by this Decree shall be determined by the Council of Ministers of the Republic of Belarus.

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* For the purposes of this Decree, organisation implementing the investment project is understood an organisation create by the investor (investors) or an organisation in relation to which the investor (investors) has a possibility to determine decision being adopted by it on the grounds established by the legislation.

1.3. upon availability of two and more investors seeking to implement investment projects on the same land plot included in the list of plots intended for subsequent allocation to investors and/or organisations for building objects stipulated by investment contracts concluded with the Republic of Belarus (hereinafter – list of plots for implementation of investment projects), the investment contract shall be concluded according to results of an auction for selection of the investor (investors) for conclusion of an investment contract with them, to be held in the order determined by the Council of Ministers of the Republic of Belarus.

 

2. To determine that:

2.1. investment contract must contain the following obligatory conditions:

object, volume, sources, time limits, and conditions for carrying out investments;

time limits for each of the stages of implementation (if available) of the investment project;

time limit for termination of implementation of the investment project, and also validity period of the investment contract;

rights and duties of the parties to the investment contract (organisation), including the duty of the investor (investors) or organisation to:

reimburse to the Republic of Belarus and its administrative and territorial units of the sum of privileges and/or preferences* in the event of termination of the investment contract on the grounds other than fulfilment by the investor (investors) and/or organisation of its obligation under the investment contract;

to notify in writing the state body or executive committee than concluded the investment contract about reorganization and/or change of the owner of the property, composition of the participants not less than two months prior to the date of carrying out them. If there are objections concerning the given circumstances, the state body or executive committee that concluded the investment contract must notify the investor (investors) and organisation about it prior to carrying out their reorganization and/or change of the owner of the property, composition of the participants. Failure of the investor (investors) or organisation to send the mentioned notification, and also their reorganization and/or change of the owner of the property, composition of the participants, upon availability of a received objection shall be the ground for refusal of the Republic of Belarus in the person of the state body or executive committee that concluded the investment contract to fulfil their obligations under the investment contract unilaterally.  The effect of this indent does not cover the instances of transformation of state unitary enterprises in open joint stock companies, and also the instances of change of the owner of the property of the investor (investors) or organisation or of the composition of participants thereof as a result of the death of natural persons;

liability of the parties to the investment contract (organisation) for non-fulfilment or improper fulfilment of its conditions, including liability of the investor (investors) and/or organisation for violation of the time limits for implementation of the investment project and/or stages of the implementation thereof (if available), and reimbursement to the investor (investors) of damages caused as a result of unlawful actions (omission) of officials of the state body or executive committee, which concluded the investment contract on behalf of the Republic of Belarus and/or another state body (organisation);

right of the Republic of Belarus to unilateral refusal of the fulfilment of its obligations under the investment contract in case of non-fulfilment or improper fulfilment by the investor (investors) and/'or organisation of its obligations;

requirements of confidentiality of information;

order and the body that will consider the disputes between the parties of the investment contract, related to fulfilment of conditions of the investment contract;

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* For the purposes of this Decree sums of privileges and/or preferences are understood the sums of taxes, dues (duties) and other obligatory payments to the republican and local budgets and budgets of state non-budgetary funds, including payment for the right to conclude a contract of lease of the land plot, lease payment for the land plot, not paid (not fully paid) by the investor (investors) and/or organisation because of their using privileges and/or preferences granted in relation to conclusion of the investment contract.

 

2.2. the investment contract shall be drawn up in Russian or Belarusian.

If a party to the investment contract is a foreign investor (investors), the investment contract may be drawn up in Belarusian or Russian, and also in a foreign language as agreed by the parties.

In case of discrepancy in interpretation of the investment contract, preference shall be given to the text in Belarusian or Russian;

2.3. drafts of investment contracts are subject to obligatory legal expert examination to be held by:

the legal service of the state body, executive committee if the decision about conclusion of the investment contract is adopted in accordance with indent two of part one of sub-clause 1.2 of clause 1 of this Decree;

the Ministry of Justice if the decision about conclusion of the investment contract is adopted in accordance with indent three of part one of sub-clause 1.2 of clause 1 of this Decree;

2.4. introduction of changes and/or additions into the investment contract shall be made through conclusion of an additional agreement to the investment contract in the order determined for the conclusion thereof.

If introduction of changes and/or additions into the investment contract concluded in accordance with indent two of part one of sub-clause 1.2 of clause 1 of this Decree is related to granting to the investor (investors) and/or organisation of privileges and preferences not established by this Decree, other acts of legislation, it is required to submit a business-plan of the investment contract and to hold a state complex expert examination of the investment project, and also holding by the Ministry of Justice the obligatory legal expert examination of the draft of the additional agreement on introduction of changes and additions into the investment contract.  Introduction of mentioned changes and additions shall be carried out on the basis of a decision of the Council of Ministers of the Republic of Belarus upon obtaining consent of the President of the Republic of Belarus;

2.5. investment contracts, additional agreements thereto are subject to the state registration in the State Register of Investment Contracts with the Republic of Belarus, the order of maintaining of which is to be determined by the Council of Ministers of the Republic of Belarus;

2.6. within five working days:

from the day of creation of the organisation, the investor (investors) shall direct to the state body or executive committee, which concluded the investment contract on behalf of the Republic of Belarus, a notification with indication of the full name of the organisation and its registration number in the Unified State Register of Legal Persons and Individual Entrepreneurs. In case if the organisation is created prior to the date of signing of the investment contract, its full name shall be indicated in the investment contract;

from the day of conclusion of the construction contract with a contractor in building activity that carries out construction of objects stipulated by the investment contract (hereinafter – contractor) or of the contract of work and labour on accomplishment design and prospecting works with a developer of design documentation, the investor (investors) or organisation shall direct to the state body or executive committee, which concluded the investment contract on behalf of the Republic of Belarus, a notification with indication of the full name (for an individual entrepreneur – family name, own name, patronymic (if available) and the registration number in the Unified State Register of Legal Persons and Individual Entrepreneurs of the contractor or developer of design documentation;

2.7. copies of investment contracts, additional agreements thereto are to be submitted by the investor (investors) and organization to the tax bodies at the place of putting on record thereof within one month from the day of conclusion, respectively, of the investment contract or an additional agreement thereto;

2.8. termination of the investment contract is carried out via adopting a decision by the Council of Ministers of the Republic of Belarus upon obtaining consent of the President of the Republic of Belarus or by the state body, executive committee, which adopted decision about conclusion of the investment contract.

3. To establish that within the period of the investment contract validity, unless another period is stipulated in indent three of sub-clause 3.2 of this clause, the investor (investors) and/or organisation:

3.1. have the right to:

allocation of a land plot included in the list of plots for implementation of investment projects on real rights in accordance with legislation on protection and use of lands, without without holding an auction for the right to conclude the lease contract of the land plot, an auction with conditions on the right of designing and constructing capital constructions (buildings, structures) and an auction on selling land plots into the private ownership (hereinafter – auction). Formalization of necessary documents on allotment of the land plot shall be carried out simultaneously with execution of works on construction upon availability of the act of selecting the place of location of the land plot (if in case of seizure and allocation of the land plots, in accordance with the legislation, a preliminary coordinated approval of the place of its location shall be effectuated) and the design documentation for the construction object (separate stages of construction) approved in the established order. In than instance construction of objects stipulated by the investment contract, removal of the fertile soil layer shall be carried out on occupied land plots with its use on conditions determined in the act of selecting the place of location of the land plot. The information contained in lists of plots for implementation of investment projects must be permanently maintained in an actual state by local executive committees, be complete, accurate, open and accessible and include purposes of possible use of those plots, their approximate space, and also contain the data about the state body or executive committee to which it is necessary to apply for conclusion of an investment contract. In addition, the list of plots for implementation of investment projects may contain data about the investment object, including about immovable property objects to be demolished, availability of infrastructure on plots, about minimum volume of investments, possible privileges and/or preferences for the investor (investors) and/or the organisation, time limits for implementation of the investment project;

construction of objects stipulated by the investment contract, with the right of removal of objects of flora without carrying out compensation payments for the value of objects of flora being removed. Timber obtained in that instance shall be realized in the order established by the legislation;

carry out in the order established by the legislation, not later than the reporting period for the value added tax on which falls the data of completion of the implementation of the investments project stipulated by the investment contract, deduction of sums of the value added tax in full volume recognized in accordance with legislation as tax deductions (with the exception of sums of the tax which are not subject to deduction), presented upon acquisition in the territory of the Republic of Belarus (paid upon importation to the territory of the Republic of Belarus) of goods (works, services), property rights, used for construction, fitting of objects stipulated by the investment contract, irrespective of the sums of value added tax computed upon realization of goods (works, services), property rights. Goods used for construction of objects stipulated by the investment contract, for the purposes of application of provisions of this indent, include also objects reconstruction, restoration, major repair of which are stipulated by the investment contract and started in accordance with the act of establishing the beginning of construction of the object, as well as immovable property objects (objects unfinished by construction and not prepared for preservation) demolished (disassembled) for purposes of implementation of the investment project. Sums of the value added accepted for deduction in full shall be determined by the method of separate accounting of tax deductions depending on directions of the use of goods (works, services), property rights, acquired in the territory of the Republic of Belarus (imported into the territory of the Republic of Belarus). The ground for carrying out such a tax deduction shall be the list of goods (works, services), property rights, acquired in the territory of the Republic of Belarus (imported into the territory of the Republic of Belarus) and used for construction, fitting of objects stipulated by the investment contract, to be submitted by the investor (investors) and/or organisation to the tax bodies at the place of putting on record thereof, with indication of their description, quantity, value, respective sums of the value added tax, details of primary accounting documents. The given list must, unless otherwise established by the President of the Republic of Belarus, be agreed by the state body or executive committee, which concluded the investment contract on behalf of the Republic of Belarus. The order of agreeing of the mentioned list is determined by the Council of Minister of the Republic of Belarus;

determination without holding procedures established by the legislation of the contractor or developer of the design documentation, suppliers of goods, providers of services for construction, including reconstruction, of objects stipulated by the investment contract. The given right does not cover public procurement of goods (works, services);

exemption customs duties (having regard to international commitments of the Republic of Belarus) and the value added tax collected by customs bodies upon importation into the territory of the Republic of Belarus of technological equipment, components and spare parts thereto for the exclusive use in the territory of the Republic of Belarus for purposes of implementation of the investment project.

The ground for granting privileges specified in indent six of part one of this sub-clause shall be submission to the customs body of the conclusion issued, unless otherwise established by the President of the Republic of Belarus, by the state body or executive committee, which concluded the investment contract on behalf of the Republic of Belarus, which confirms the intended purpose of technological equipment, components and spare parts thereto being imported (imported) for the exclusive use in the territory of the Republic of Belarus for purposes of implementation of the investment project, and for purposes of exemption from import customs duties – also fulfilment of conditions established by international legal acts constituting the normative legal base of the Customs Union and Single Economic Space and/or acts constituting law of the Eurasian Economic Union.  The order for issuance of the given conclusion is determined by the Council of Ministers of the Republic of Belarus.

In relation to technological equipment, components and spare parts thereto imported with application of exemption in accordance with indent six of part one of this sub-clause, restrictions on use and/or disposal shall be effective till the end of the time limit for implementation of the investment project, but not longer than five years from the day of placement of such technological equipment, components and spare parts thereto under a respective customs procedure.

In case of use of technological equipment, components and spare parts thereto imported with application of exemption in accordance with indent six of part one of this sub-clause not in line with the intended purpose, import tax duties and the value added tax shall be paid (collected( in accordance with the legislation;

3.2. are exempted from:

payment for the right to conclude the contract of lease of the land plot allocated without holding an auction for construction of objects stipulated by the investment contract;

land tax for land plots being in the state or private ownership and lease payment for land plots being in the state ownership.  In that instance the given privilege is effective in relation to land plots (with the exception of land plots (parts of a land plot) occupied by construction objects not finished within normative time limits, recognized as such for purposes of collection, respectively, of the land tax or lease payment of land pots being in the state ownership, allocated for temporary use and not returned in time, and also wilfully occupied), allocated for construction of objects stipulated by the investment contract (for maintenance of those objects after the completion of construction thereof, is earlier such plots were allocated for purposes of the given constructing of these objects) from the first day of the month in which the investment contract entered into force till December 31 of the year following the year in which the last of the objects stipulated by the investment contract had been accepted for operation. Upon termination of the investment contract in relation to non-fulfilment or improper fulfilment by the investor (investors) of their obligations under that contract, the investor (investors) and organisation lose the right to that privileged from the date of such termination;

compensation of losses of agricultural and/or forestry production, related to the seizure of the land plot;

value added tax and tax on profit, the duty on payment of which arises in relation to gratuitous transfer (receipt) of capital constructions (buildings, structures), objects of unfinished capital construction and other fixed assets being transferred (transferred) for purposes of implementation of the investment project within the framework of the investment contract into ownership, economic management or operative administration of the investor (investors) and/or organisation.

4. To establish that for purposes of importance of the investment project within the framework of the investment contract the investor (investors) and/or organisation, and also the contractor and/or the developer of the design documentation have the right to:

4.1. exemption from payment of the state duty for issuance (extension of the validity term) of permits for employment in the Republic of Belarus of foreign labour force, special permits for the right to be engaged in labour activity in the Republic of Belarus, and foreign citizens and stateless persons engaged by the investor (investors) and/or organisation, the contractor and/or the developer of the design documentation – to exemption from payment of the state duty for issuance (extension of the validity term) of permits for temporary residence in the Republic of Belarus. In that instance the time limit for adoption of the decision on issuance (extension of the validity term) or refusal of issuance (extension of the validity term) of special permits for the right to be engaged in labour activity in the Republic of Belarus may not exceed seven calendar days, and the time limit for granting a conclusion about possibility (impossibility) to engage of a foreign citizen, stateless person – two working days;

4.2. singling-out in the construction project of work stages with execution of works on construction of the object at the current stage simultaneously with execution of design works  for subsequent stages if there is  an architectural project approved in the established order.

5. The day of arising of the right to privileges and/or preferences granted for purposes of implementation in the territory of the Republic of Belarus if investment projects within the framework of investment contracts shall be the date of entry into force of the investment contract or of an additional agreement thereto unless a later deadline for beginning of the effect of such privileges and/or preferences is provided by the legislation by which they are established or by the investment contract or by the additional agreement thereto.

The day of termination of the right to privileges and/or preferences granted for purposes of implementation in the territory of the Republic of Belarus if investment projects within the framework of investment contracts shall be the date of termination of the investment contract,  unless an earlier deadline for termination of the effect of such privileges and/or preferences is provided by the legislation by which they are established or by the investment contract or by the additional agreement thereto. Establishing a later deadline for termination of the effect of such privileges and/or preferences in the investment contract is allowed in the instances provided by the legislation.

In that instance privileges and/or preferences on taxes, dues (duties) and other obligatory payments to the republican and/or local budgets and budgets of state non-budgetary funds shall be applied, and also cease to be applied, from the date determined with regard to requirements of the legislation in accordance with which those taxes, dues (duties) are collected, unless otherwise established by the President of the Republic of Belarus.

6. To determine that:

6.1. in case of termination of the investment contract on grounds other than fulfilment by the investor (investors) and/or organisation of its obligations under the investment contract, the investor (investors) and/or organisation is obliged to reimburse to the Republic of Belarus and its administrative-territorial units sums of privileges and/or preferences in the order and on the conditions established by the Council of Ministers of the Republic of Belarus, and also to pay a penalty fee stipulated by the investment contract, unless otherwise established in clause 7 of this Decree. Demands on reimbursement of sums of privileges and/or preferences and on payment of the penalty fee may not be presented to the investor (investors) and/or organisation, which violated the time limits and other conditions of implementation of the investment project in connection with unlawful actions (omission) of officials of the state body or executive committee, which concluded the investment contract on behalf of the Republic of Belarus, and/or of another state body (organisation) in the absence of fault of the investor (investors) and/or organisation.

Upon termination of the investment contract on grounds other than fulfilment by the investor (investors) and/or organisation of its obligations under the investment contract, concerning technological equipment, components and spare parts thereto, place under the customs procedure of:

release for internal consumption with application of exemption in accordance with indent six of part one of sub-clause 3.1 of clause 3 of this Decree, import customs duties and value added tax are subject to payment (provided that in relation to such technological equipment, components and spare parts thereto not more than five years have passed from the day of placement thereof under a respective customs procedure) on the day following the day of termination of the investment contract in the order established by the legislation;

temporary importation (acceptance) with application of exemption in accordance with indent six of part one of sub-clause 3.1 of clause 3 of this Decree, the right to such exemption is lost from the day following the day of termination of the investment contract. Possession, use of such technological equipment, components and spare parts thereto later on without payment of import customs duties, value added tax, collected by customs bodies shall be considered as actions violating established restrictions on use and/or disposal of technological equipment, components and spare parts thereto;

6.2. termination of the investment contract in relation to non-fulfilment or improper fulfilment by the investor (investors) and/or organisation of its obligations under that contract shall be a ground for seizure, in the order established by the legislation, from the investor and/or organisation of the land plot allocated without holding an auction for construction of objects stipulated by the investment contract;

6.3. in the event of termination of the investment contract on the grounds other than fulfilment by the investor (investors) and/or organisation of its obligations under the investment contract and of ending of the validity period of the contract of lease of the land plot allocated for construction of objects stipulated by the investment contract, upon an application of the investor (investors) with which the investment contract has been terminated and/or of the organisation for completion of the construction of the object with regard to its construction readiness and assessment of financial capabilities of the investor (investors) with which the investment contract has been terminated and/or of the organisation, the local executive committee, in accordance with its competence on seizure and allotment of land plots, may adopt a decision on allocation of the land plot into lease without holding an auction with payment for the right to conclude the contract of lease of land plots and, unless otherwise established by the President of the Republic of Belarus, without granting the right to pay it by instalments.

In the event of termination of the investment contract in relation to non-fulfilment or improper fulfilment by the investor (investors) and/or organisation of its obligations under the investment contract and seizure, in the order established by the legislation, from the investor and/or organisation of the land plot allocated without holding an auction for construction of objects stipulated by the investment contract, on which objects unfinished by construction and not prepared for preservation are located (ending of the validity period of the contract of lease of such a land plot), when the investor (investors) with which the investment contract has been terminated and/or of the organisation has no financial capabilities to complete construction of the object, according to the decision of the local executive committee, in accordance with its competence on seizure and allotment of land plots, shall be carried out the sale the object unfinished by construction and not prepared for reservation from the public trading in the order established by the Council of Ministers of the Republic of Belarus, simultaneously with the sale into private ownership of the land plot necessary for completion of the construction and maintenance of that object or with the sale of the right to conclude a contract of lease of such land plot, unless otherwise established by the President of the Republic of Belarus.

In case of ineffective* or aborted** trading, the initial price of sale at the trading of an object unfinished by construction and not prepared for preservation may be decreased, unless otherwise established by the President of the Republic of Belarus:

by 20 per cent after the first ineffective or aborted trading and also and refusal of the sole participant to purchase the trading object at the initial price increased by 5 percent;

to 50 percent inclusively after the ineffective or aborted trading held in accordance with indent two of this part, and also and refusal of the sole participant to purchase the trading object at the initial price increased by 5 percent;

to 80 percent inclusively after the ineffective or aborted trading held in accordance with indent three of this part, and also and refusal of the sole participant to purchase the trading object at the initial price increased by 5 percent.

In the instance if the trading held in accordance with indent four of this part was recognized as ineffective or aborted, and also and refusal of the sole participant to purchase the trading object at the initial price increased by 5 percent, the mentioned object may put at auction with the initial price equal to one base unit.

Upon the sale of an object unfinished by construction and not prepared for preservation, the local executive committee shall reimburse to the investor (investors) with which the investment contract has been terminated and/or to the organisation the sum of expenses confirmed by documents on construction of the object unfinished by construction and not prepared for preservation, but not more than the sum obtained from the sale of that object minus expenses on holding the public trading, including assessment of the value of objects unfinished by construction and not prepared for preservation.

In the instance if the object unfinished by construction and not prepared for preservation was not sold on results of the auction with the initial sale equal to one base unit, the given object shall be transferred into ownership of the respective administrative and territorial unit.

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*Ineffective trading is understood to be trading on results of which the property was not sold in the order established by the legislation to any of the participants of the trading.

**Aborted trading is understood to be trading which was not held in connection with absence of participants or presence of only one participant.

 

7. In the event of termination of the investment contract on the grounds other than fulfilment by the investor (investors) and/or organisation of its obligation under the investment contract, the investor (investors) and/or organisation may, having regard to the level of readiness of the object stipulated by the investment contract, volume of made investments and fulfilment of other conditions of the investment contract, be exempted in full or in part from:

reimbursement of the sum of privileges and/or preferences according to a decision of the Council of Ministers of the Republic of Belarus agreed with the President of the Republic of Belarus;

payment of penalty fee (fine, penalty interest) according to a decision of the state body or executive committee, which concluded the investment contract on behalf of the Republic of Belarus, or according to a decision of the Council of Ministers of the Republic of Belarus agreed with the President of the Republic of Belarus if the decision on conclusion of the investment contract was adopted by the Council of Ministers of the Republic of Belarus as agreed with the President of the Republic of Belarus.

According to a decision of the state body or executive committee, which concluded the investment contract on behalf of the Republic of Belarus, or according to a decision of the Council of Ministers of the Republic of Belarus agreed with the President of the Republic of Belarus if the decision on conclusion of the investment contract was adopted by the Council of Ministers of the Republic of Belarus as agreed with the President of the Republic of Belarus, the investor (investors)and/or the organisation may be granted .  In the event if after the conclusion of the investment contract on the basis of a decision of the state body or executive committee, the investor (investors)and/or the organisation was granted additional privileges and/or preferences according to a decision of the Council of Ministers of the Republic of Belarus as agreed with the President of the Republic of Belarus, the decision on granting adjournment of and/or by-instalment payment of the reimbursement of the sum of those privileges and/or preferences shall be adopted by the Council of Ministers of the Republic of Belarus upon agreement with the President of the Republic of Belarus.

The order of exemption of the investor (investors)and/or the organisation from reimbursement of privileges and/or preferences, payment of penalty fee (fine, penalty interest) and granting adjournment of and/or by-instalment payment of those payment is established by the Council of Ministers of the Republic of Belarus.

8. To determine that the state  body, executive committee, which concluded the investment contract on behalf of the Republic of Belarus shall:

8.1. inform the tax bodies at the place of putting on record of the investor (investors)and/or the organisation and also the State Customs Committee (in the instance if a conclusion which confirms the intended purpose of technological equipment, components and spare parts thereto being imported (imported) for the exclusive use in the territory of the Republic of Belarus for purposes of implementation of the investment project was issued to the investor (investors)and/or the organisation) about the end of implementation of the investment project and/or about the date of termination of the investment contract within the time limit of not later than ten working days from the day of adoption of the decision on termination of the investment contract;

8.2. carry out interaction with the investor (investors)and/or the organisation on issues of implementation of the investment project in accordance with the investment contract.

9. To grant to the Council of Ministers of the Republic of Belarus or to republican bodies of state administration authorized by it the right to explain issues concerning the application of this Decree.

10. Control over observance of conditions of investment contracts shall be carried out by the state body, executive committee, which concluded the investment contract on behalf of the Republic of Belarus, the Council of Ministers of the Republic of Belarus, other state bodies in accordance with their competence determined by the legislation.

 

President of the Republic of Belarus

A. Lukashenko

 

* unofficial translation *