LIBERALISATION in the Belarusian Economy

BELARUS efforts to encourage more businesses and economic growth Short-cut list of the Government’s liberalisation measures

Business Running

Done
 
Pending

Launching business

 
 Registration of business on the day of application, no longer
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 Number of papers required for registration shortened (application, statutory paper and registration fee)
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 No minimum level of capital assets to launch business
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 Fewer requirements for statutory papers
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 Shorter list of papers required for setting up a bank account
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 No refusal to register business if papers submitted correctly
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 Starting business activities virtually the next day after submitting application
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 Easier registration in a tax agency: now through a single processing line
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 Inspections by supervisory agencies suspended
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 Accounting requirements relaxed with less paper work
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 Faster business liquidation
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 Insolvency procedure eased and streamlined
 

Salary and bonus calculation

 
 Simpler regulations for salary and bonus calculation
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 Larger legal leeway for CEOs in calculating salaries and bonuses
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Land and real property lease

 
 Minimum lease (sublease) term of premises – 3 years
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 No state registration of real property lease contract or changes in contract
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 Real property lease contract effective from date of signing
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 State fee for land lease contract halved
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 No fees or taxes for companies leasing state property for free
 
 Fewer land lease operations subject to regulation
 
 More rights to use land as a bail
 

Preferences in R&D

 
 Legal right for universities to set up businesses for R&D
 
 Large legal and commercial leeway for such businesses
 
 No customs tariffs and VAT for R&D-required equipment coming in
 

Export/import operations

 
 Easier regulations and control procedures in export/import operations (EIO)
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 EIO by mere notification of a bank, no special “passport” as formerly
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 No registration of EIO if transaction paid fully and beforehand
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 Number of EIO out of monetary control procedures
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Construction activities

 
 Uniform requirements list for building up premises
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 Fewer regulations in construction activities
 
 No limitations for building up gasoline stations
 

Requirements & Regulations (for businesses)

 

Taxes

 
 12% income tax
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 8% aggregate revenue (VAT-free) tax
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 6%  aggregate revenue (VAT-paid) tax
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 5% local sale and services tax
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 3% transport purchase tax
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 1% agricultural production  support tax
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  No fixed assets taxes
 
  No agricultural production support tax
 
  No sale and service tax
 
  No transport purchase tax
 

Administrative procedures

 
 Tax declaration submitted electronically (no more hard copies)
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 Unifom list of all administrative procedures for businesses (no deviation)
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 Administrative procedures cut by 25 per cent
 
 170 procedures listed for elimination
 
 Licence regulations eased and streamlined
 
 119 ‘licence-free’ activities
 
 15 days to get a licence instead of 30 days before
 
 Reasons to suspend licence listed uniformly
 

Price Regulations

 
 Simpler registration procedure of prices
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 No registration of prices for new commodities or services
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 Shorter list of commodities and services with prices regulated by Government
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 Freer pricing  in more areas
 

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