January 3, 2005

Decision of the Council of Ministers of the Republic of Belarus of December 23, 2004 No. 1629 modifies the limits of liability for the damage caused as the result of a road accident established by the Decision of the Council of Ministers of the Republic of Belarus of June 16, 2000 No. 898. According to the changes the limits of liability for the damage caused as the result of a road accident to life or health of a victim is established at the amount equaling 10000 euro (instead of 5000 established earlier), and for the damage caused to the property of victims 10000 euro as well.

Decision of the Council of Ministers of the Republic of Belarus of December 24, 2004 No. 1635 brings in changes to the Decision of the Republic of Belarus of October 17, 2003 No. 1350 excludes from the list of goods the retail of trade of which is licensed the works of arts and articles of folk creativity made by their authors (if there are documents confirming their professional education or membership in creative unions).

Decision of the Council of Ministers of the Republic of Belarus of December 23, 2004 No. 1633 approves the Regulations on Procedure of Account, Storage, Release and Transportation of Ethyl Alcohol from All Kinds of Raw Materials. The Regulations establishes the requirements to storage, account, release and transportation of the ethyl alcohol by legal persons and individual entrepreneurs carrying out its production, wholesale, storage, transportation and those who use the alcohol in technological process.

Edict of the President of the Republic of Belarus of December 29, 2004 No. 625 brings in changes to the Edicts concerning the dwelling construction. In particular, the edict reduces the interest rates for using the privileged credits for dwelling construction from 5 to 3 percent.

Edict of the President of the Republic of Belarus of December 29, 2004 No.626 establishes that incomes received by the natural persons in the form of interests under bonds of Belarusbank are free from individual income tax.