The President of the Republic of Belarus provided tax exemption to promote export of potash fertilizer

According to the Edict of the President of the Republic of Belarus of June 13, 2008 No. 325 foreign legal persons are exempted from tax on income, gained in result of rendering to the Belarusian Potash Company consultative, marketing, advertising, legal, and agency services. To be eligible for such exemption a foreign legal person shall (1) be a resident of the country which does not have any agreement concluded with the Republic of Belarus on the matters of avoiding of double taxation; (2) not carry out its activity through its permanent representative office in the Republic of Belarus. Besides, not less than 50 % of the authorized capital of the above legal person shall belong to the Belarusian Potash Company.

The Edict introduced some additional measures to promote export of potash fertilizer.