May 24, 2004

Decision of the Council of Ministers of the Republic of Belarus of May 12, 2004 No. 551 On Issues of Collecting Taxes on Incomes and Profit determines the list of kinds of incomes of foreign legal persons subject to taxation as other incomes and approves the Regulations on Procedure and Terms for Paying Taxes on Incomes and Profit. In particular according to Regulations the tax (income and profit tax) from holding transactions with securities is paid every month not later than 22 day of the month following the month of account, that does not concern the profit tax of foreign legal persons carrying out the activity in the Republic of Belarus through permanent representation, and tax on profit received from sale of plants and flowers and fur products.

Decision of the Administration of the National Bank of the Republic of Belarus and State Customs Committee of the Republic of Belarus of April 30, 2004 No. 73/38 approves the Instructions on Procedure of Import, Export and Sending of Foreign Currency, Belarusian Rubles, Payment Documents in Foreign Currency, Documentary Securities in Belarusian Rules and Foreign Currency by Natural Persons Across the Customs Border of the Republic of Belarus. Belarusian rubles are freely exported and imported at the sum not exceeding 500 basic values for one person. Sending by natural persons of Belarusian rubles by post is prohibited, but sending of foreign currency is allowed in letters with the declared cost at the sum not exceeding 200 US dollars. At importing by natural persons of foreign currency at the sum not exceeding 3000 US dollars the sum is not subject to obligatory declaration. Export of the sum not exceeding 10000 US dollars is carried out without any permitting documents.

Decision of the Council of Ministers of the Republic of Belarus of May 7, 2004 No. 536 approves some measures to realize the Decree of the President of May 3, 2004 No. 2 and brings is alterations to the Decision of the Council of Ministers of October 17, 2003 No. 1350. In particular, the terms for obtaining some special permits (licenses) are extended till January 1, 2005.

Decision of the Council of Ministers of the Republic of Belarus of May 14, 2004 No.569 brings in alterations to the Decision of the Council of Ministers of the Republic of Belarus of October 31, 2001 No. 1605 approving the Regulations of the Ministry of Justice of the Republic of Belarus. Alterations concern the powers and functions of the Ministry of Justice in the sphere of state registration and liquidation (termination of activity) of legal persons and individual entrepreneurs.