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2008 Investment
Proposals from Belarus
Dear American
investors,
Please, explore 2008 investment proposals from Belarus.
We would like
to remind you that in recent months, Belarus has passed a number of far-reaching
legal acts to radically liberalize economy and raise investment profile of the
country. Those measures and the measures to follow are stepped up to achieve the
goal assigned by the Head of State – make it to the top 25 countries in terms of
doing business under the World Bank ranking. You can learn about the measures
have been already taken at our web site
www.belarusembassy.org.
It is also
worth to emphasize one more time, that by his Decree # 42, the President of
Belarus has introduced amendments and additions to some decrees dealing with the
activity of free economic zones of Belarus (FEZ).
Companies
registered in FEZ (residents) will enjoy special taxation procedures for at
least seven years even if Belarus’ tax rules should change. Besides, the Decree
secures for FEZ residents the right to tax relief and guarantees to include
their products to the annual list of import-substituting goods produced by FEZ
residents and imported to the domestic market in case these goods are included
on that list during the first year of their production.
In addition,
FEZ residents will enjoy privileged renting conditions (no bigger than two per
cent of the cadastral value, but no less than the rates of the land tax) with
respect to the land plots provided to them for pursuing investment projects and
privileged taxation schemes. Companies registered in FEZ will be exempted from
the real estate tax and tax on vehicle acquisition, transfers to the innovation
fund of the Ministry of Architecture and Construction, mandatory surrender of
foreign exchange on the home market.
Moreover, the
state will facilitate infrastructure development for large investment projects.
The Decree also
provides additional powers to the administrations of FEZ:
they will be able to decide independently on registration of residents with at
least 1 million euros of declared investment and lease out property managed by
the state.
The Decree
comes into force on April 1, 2008.
Please,
visit
http://invest.belarus.by
to learn more
about investments in Belarus.
Should you have
any questions, please do not hesitate contact us:
Mr. Dmitry
Poladenko
First Secretary
Tel: (202)
986-5541
Fax: (202) 986-1805
E-mail:
poladenko@belarusembassy.org
Mr. Oleg
Morozov
Second Secretary
Tel: (202)
986-1634
Fax: (202) 986-1805
E-mail:
morozov@belarusembassy.org
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