Commentary to Decree No. 84 and Decree No. 85

    On 3 March Belarus President Aleksandr Lukashenko signed Decree No. 84 “Concerning the emission and circulation of shares using foreign depositary receipts”.

    The decree enables joint-stock companies to hand over their shares to foreign organizations which, in turn, provide foreign depositary receipts for these shares and place (sell) them on the foreign markets instead of the shares in accordance with a corresponding agreement.

    The decree will help hold productive negotiations and use extraordinary instruments for raising foreign investments from international financial markets to Belarus in the current conditions.

    Besides, on 3 March the President of Belarus signed Decree No. 85 “Concerning the taxation of certain types of income”. In line with the decree, the regime of tax preferences in relation to the incomes from the legal entities’ operations with bonds will be prolonged till 31 December 2017. The decree aims to create favorable conditions for using additional means of raising the inflow of investments to the real production and banking sectors in Belarus.

    The documents were signed following the decisions made by the President at the session to discuss the draft decrees aimed at developing Belarus’ financial market on 29 February 2016.