February 16, 2004

Decision of the Council of Ministers of the Republic of Belarus No. 126 of February 4, 2004 approves the Model Regulations on Commission to Prevent Economic Insolvency (Bankruptcy). According to the Decision state bodies shall in two months term to create commissions to prevent economic insolvency (bankruptcy) in accordance with the enclosed Regulations and shall control the activity of the commissions. The Regulations determine the procedure of creation, purposes and tasks of the commissions. The commissions are created by state bodies, local executive and administrative bodies that operate or control insolvent organizations on the basis of the decision of the mentioned state bodies. The number of commission members as a rule shall not be more than 7 persons.

Decision of the Council of Ministers of the Republic of Belarus No. 132 of February 5, 2004 approves the List of Socially Important Goods for the year 2004. The List includes certain food and nonfood products. The List mentions some products only of domestic origin and does not include the same products of foreign origin.

Decision of the Ministry of Taxes and Duties of January 20, 2004 No. 9 brings in alterations and amendments to the Instructions on Procedure of Calculation and Payment of the Tax on Incomes of Foreign Legal Persons Not Carrying Out Their Activity Through a Permanent Representation. Introduced amendments and alternations concern the procedure of calculation of income received from different activity and gives some precise definitions for the purposes of taxation.