November 24, 2004

Law of the Republic of Belarus of November 15, 2004 No. 331-Z introduces alterations and amendments to the Law of the Republic of Belarus On International Treaties of the Republic of Belarus and sets forth the mentioned Law in a new edition.

Law of the Republic of Belarus of November 15, 2004 No. 332-Z brings in changes to the Customs Code of the Republic of Belarus concerning payment of the customs duties. The Code provides the possibility to pay the customs duties in foreign currency the official rates of which are established by the National Bank of the Republic of Belarus. In some cases established by the Government of the Republic of Belarus they are to be paid only in foreign currency.

Law of the Republic of Belarus of November 18, 2004 No. 338-Z brings in changes to the tax legislation, in particular, to the Law On Land Payments, On Value Added Tax, On Taxes on Incomes and Profit, On Real Estate Tax, On Natural Resources (Ecology) Tax, On State Duty and to the General part of the Tax Code of the Republic of Belarus. Particularly, the Law on VAT is amended with a point freeing from taxation of sums under the leasing contracts for vehicles designed for city, rural and international transportation of passengers.