November 16, 2004

Law of the Republic of Belarus No. 325-Z of November 1, 2004 brings in an amendment to the Law of the Republic of Belarus On Introducing Amendments and Alterations to the Investment Code of the Republic of Belarus. According to the amendment article 91 of the Investment Code is set forth in a new edition concerning payment of taxes and duties.

Decision of the Council of Ministers of the Republic of Belarus No. 1382 of November 2, 2004 brings is changes to the rates of import customs duties approved by the decision of the Council of Ministers of the Republic of Belarus of June 28, 2002 No. 865. New rates are established for tea, car tires and other goods.

Decision of the Ministry of Taxes and Duties No. 120 of November 1, 2004 introduces changes to the Instruction on peculiarities of taxation of the residents of the free economic zone Brest approved by the decision of the Ministry of Taxes and Duties No. 108 of December 30, 2002. In particular, the Instruction is amended with the provisions stating that the dividends due to the participant (owner) of the FEZs Brest resident within 5 years from the moment of registration of the resident are not subject to taxation with the income tax from natural persons.

Decision of the Council of Ministers of the Republic of Belarus No. 1402 of November 4, 2004 establishes for 9 months term temporal rates of customs duties for the goods imported to the customs territory of the Republic of Belarus. The temporal rates are established for threads, stockings, watches, shoes, etc.

Decision of the Council of Ministers of the Republic of Belarus No. 1409 of November 6, 2004 brings in changes to the Regulations on Licensing of Activity on Rendering Legal Services. Legal services are licensed by the Ministry of Justice of the Republic of Belarus. Now legal services also include realtors services licensed by the Ministry.

Decision of the Ministry of Finance of the Republic of Belarus and the Ministry of Taxes and Duties No. 158/119 of October 28, 2004 brings in changes to the Regulations on procedure of the return of sums of VAT paid at purchasing goods (works, services) or at import of goods to the customs territory of the Republic of Belarus exceeding the sums of the VAT calculated at realization of those goods (works, services). The return of the VAT exceeding sums may by carried out fully or partially before expiration of the established 3 months on condition that the return is agreed with the Ministry of Finance or the Ministry of Finance initiates the return.