Peculiarities of taxation of free economic zones residents of the Republic of Belarus

At present in Belarus six free economic zones (FEZ) exist:
FEZ "Brest", FEZ "Minsk", FEZ "Vitebsk", FEZ "Mogilev", FEZ "Gomel-Raton", FEZ "Grodnoinvest".
A free economic zone - is a lot of land on the territory of Belarus with precisely appointed borders and a specific law order, establishing more favorable conditions for economic activity for FEZ residents.
FEZ residents' registration is performed by FEZ administration on competition basis taking into the account the amount of investments, the necessity to create industrial and social infrastructure on the condition that FEZ residents are accommodated on the FEZ territory.
FEZ resident is a legal entity or an entrepreneur registered by FEZ administration who are liable to a special FEZ law order that includes specific taxation order; currency, customs and other sort of regulations.
The specific law order has restrictions. Thus, in FEZ "Brest" gambling business, in FEZ "Minsk", "Vitebsk" and "Gomel" trade, trade-purchase activity and public catering are not liable to it. In FEZ "Mogilev" and "Grodnoinvest" the production and realization of exported goods and services as well as replaceable import goods and services experience specific law order according to the list approved by the Government of Belarus.
According to the specific law order a preferential taxation order exists in Free Economic Zones of Belarus. It includes legislatively established common privileges for all the organizations of Belarus as well as additional privileges and preferences for FEZ residents.