Legislation news

Tax benefits for commercial companies starting activity in small cities.

Changes in taxation in 2008.

As it was published earlier, The President Decree ¹7 that regulates the order of reception of licenses (special permissions) on some kind of activities was passed in November 2007.
From the moment of the entering into force the Decree grants the right to obtain a license to foreign legal persons and organizations that were formed according to legislation of foreign country in case if they have representative office on the territory of the Republic of Belarus (if legislation doesn’t establish that the right of realization of licensed kinds of activity have only Belarusian legal persons and private entrepreneurs registered in the Republic of Belarus). Until now the order has been established only concerning foreign companies that carry on freight forwarding.

Minister of justice during the press conference in Minsk notified that the Ministry of Justice of the Republic of Belarus is working out the document that will render additional financial and tax benefits and privileges for foreign companies.

The Government of the Republic of Belarus the decision ¹1120 of 01/09/2006 cancelled the license requirement to adhere to relative density of the goods of a domestic production in total amount of commodity circulation of a retail trading network.
It will allow subjects of retail trade to be more free in a choice of suppliers, that, undoubtedly, stimulates development of trade in our country.