June 22, 2005

Decree of the President of the Republic of Belarus of June 18, 2005 No. 7 brings in an amendment into the Regulations on Licensing of Some Kinds of Activity approved by the Decree of the President of July 14, 2003 No. 17 and provides when the licensee violates once again (twice or more within a calendar year) the legally established procedure of accepting cash money when selling goods (fulfilling works or services) and (or) violates the procedure of using cash register machines and (or) special computer systems, the licensing body shall in 2 weeks pass the decision to annul the license based on the notice from taxation body or other state agency.

Decree of the President of the Republic of Belarus of June 18, 2005 No. 285 On Some Measures to Regulate Entrepreneurial Activity with a view to improve the procedure of levying the VAT while importing of goods from the Russian Federation by individual entrepreneurs approves the Regulations on Single Tax from Individual Entrepreneurs and Other Natural Persons, the List of kinds of activity during which the individual entrepreneurs and other natural persons pay the single tax and the Basic Rates of the single tax.

Edict of the President of the Republic of Belarus of June 15, 2005 No. 275 establishes the tax rates for use of natural resources (ecology tax) and conditions of full or partial relief from payments for emissions of contaminating substances into the air, emission of sewage or contaminating substances into environment and allocation of industrial wastes. Appendixes to the Edict list the tax rates for the emissions and wastes as well as geology research works and for transit of oil and oil products through the territory of the Republic of Belarus.

Decision of the Council of Ministers of the Republic of Belarus of June 11, 2005 No. 633 brings in an amendment into the Regulations on licensing of activity in the sphere of communication approved by the Decision of October 20, 2003 No. 122. According to the amendment in some cases the license may be issued for the term up to 10 years.

Decision of the Council of Ministers of the Republic of Belarus of June 13, 2005 No. 635 brings in changes into the Decision of March 26, 2003 No. 402 On State Duty Rates and on Granting Additional Privileges on Its Payment. In particular, some rates were changed and some were moved into the document from the abolished legal acts.

Decision of the National Bank of the Republic of Belarus of June 3, 2005 introduces changes into the Rules of Conducting the Cash Transactions and Cash Settlements in the Republic of Belarus approved by the Decision of March, 2003 No. 57. In particular, entrepreneurs independently determine the procedure and terms of putting their earnings on their bank account and determine the amount of spending cash money from the earnings if they carry out their activity with the use of cash register machines or special computer systems and during a year have monthly earnings in cash not exceeding 500 basic values. Such a provision enters into force on January 1, 2006.