Opportunities for Importers
Requirements of Resolution of the Board of the National Bank of the Republic of Belarus No. 165 on Payment Procedures under Foreign Trade Agreements Involving Import dated 11.11.2008 do not apply to payments by an importer by letter of credits.
A letter of the National Bank of the Republic of Belarus No. 31-14/1517 “on Payment Procedures under Foreign Trade Agreements Involving Import dated 18.11.2008 illustrates that a letter of credit is a separate obligation with respect to obligations arising from a sales contract or other contract involving such method of payment (part three, Article 254 of the Banking Code of the Republic of Belarus).
Starting from November 16, 2008 a Resolution of the Board of the National Bank of the Republic of Belarus No. 165 on Payment Procedures under Foreign Trade Agreements Involving Import dated 11.11.2008, prohibiting prepayment for effecting advance payments by an importer in favor of a non-resident, came into effect.
On Breach Classification
State Customs Committee approved common approach to qualification of breaches related to provision of corrupt data in transport (shipping) and commercial documents. Now customs authorities shall distinctly differentiate between non-deliberate faulty actions implying no damage to national economy, and illicit transfer of goods.
On National Property Sublease
In March of the current year the Republican Commission for Regulation of Administrative Buildings, Constructions, Production Areas and Other National Property Units adopted the Decision on Prohibition of the National Property Sublease in the Republic of Belarus from April 24, 2008 (Protocol No. 39 dated 25-26.03.2008). Later currency exchange offices, ATMs, information kiosks, electronic interactive games sale points set by Sport-Pari CJSC were allowed to work under national property sublease conditions as an exception.
Extension of Foreign Trade Transactions
Ministry of Trade of the Republic of Belarus advised that admission of documents for permits to extend foreign trade transactions shall be stopped on October 1, 2008 at18.00 .
Starting from October 2, 2008 (the date Decree of the President of the Republic of Belarus No. 178 dated 27.03.2008 comes into effect), this transaction shall be carried out by the National Bank of the Republic of Belarus (its main branches regionally).
Permits shall be issued pursuant to Resolution of the Board of the National Bank of the Republic of Belarus No. 100 on Approval of the Instructions for Issue of Permits for Extension of the Terms for Discharge of Obligations in the Exercise of Foreign Trade Transactions dated 28.07.2008.
New Regulations for Goods Acceptance in Terms of Volume and Quality
New Regulations for Goods Acceptance in Terms of Volume and Quality were approved by resolution of the Council of Ministers of the Republic of Belarus No. 1290 dated September 3 and introduced into the National Register of Legal Acts of the Republic of Belarus on September 2008, Ref. No. 5/28293. The said Regulations come into effect upon their official publication and supersede Regulations for Goods Acceptance in Terms of Volume and Quality, approved by resolution of the Cabinet of the Republic of Belarus No. 285 dated 26.04.1996.
Registration of Real Estate, Rights Thereto and Transactions Therewith
Law of the Republic of Belarus No. 335-З dated 02.05.2008, according to which numerous amendments to the Law of the Republic of Belarus on State Registration of Real estate, Rights Thereto and Transactions Therewith were introduced, came into effect.
The renewed law allows any registration activities with respect to estate shares, simplifies the procedure of real estate division, cancels the requirement that the application for registration is to be signed by both Parties to transaction; new revision thereof sets out rules and procedures for registration etc.
Rules of Motor Trucking
Rules of motor trucking, approved by Resolution of the Council of Ministers of the Republic of Belarus No. 970 dated 30.06.2008 (Reg. No. 5/27990 dated 15.07.2008) came into effect on July 1, 2008.
The Rules regulate requirements to safe motor trucking, requirements to carriers, drivers and vehicles during national and international transport operations, general conditions of motor trucking.
Procedure for Safety Confirmation
Opportunities to confirm safety and quality of the imported goods were extended.
Resolutions of the Ministry of Trade of the Republic of Belarus, Ministry of Agriculture and Food of the Republic of Belarus, Ministry of Health of the Republic of Belarus, State Standardization Committee of the Republic of Belarus No. 28/35/38/27 on Confirmation of Safety and Quality of Goods upon Their Sale in Retail Facilities, Public Catering Trade Facilities, Market Trade Places dated 07.05.2007 were respectively amended.
Privileges Come Into Effect
Pursuant to Decree of the President of the Republic of Belarus No. 1 on Production and Disposal of Goods (Work, Services) Stimulation dated 28.01.2008, business entities, established after April 1, 2008 in little towns, shall be granted additional privileges.
The entities shall be exempted form income tax, fee to the Republican Agricultural Producer, Foodstuff Producer and Agricultural Science Support Fund and some other taxes for 5 years from the date of establishment. These preferential conditions shall be valid in localities with population below 50 thousand (according to the list approved by the Government of the Republic of Belarus).