On Introducing Amendments and Additions to Some Decree of the President of the Republic of Belarus Relating to the Activity of Free Economic Zones

By his Decree No. 42, the President of the Republic of Belarus has introduced amendments and additions to some decrees dealing with the activity of free economic zones.

The Decree secures for FEZ residents the right to tax relief and guarantees to include their products to the annual list of import-substituting goods produced by FEZ residents and imported to the domestic market in case these goods are included on that list during the first year of their production. Besides, FEZ residents will enjoy privileged renting conditions (no bigger than two per cent of the cadastral value, but no less than the rates of the land tax) with respect to the land plots provided to them for pursuing investment projects and privileged taxation schemes.

The Decree comes into force on 1 April 2008.

Please see the Russian version of this site for the full text of the Decree