On amending the Decree of the President of the Republic of Belarus (amendments to Decree No. 325 of 17 July 2015)

Additional measures meant to develop the national guarantee system and raise Belarus’ transit potential have been taken. Belarus President Aleksandr Lukashenko signed relevant decree No.318 on 20 August.

The document amends presidential decree No.325 of 17 July 2015 on the national guarantor for ensuring the fulfillment of obligations concerning the payment of customs duties, taxes, special duties, antidumping duties, and compensatory duties.

Criteria for recognizing the guarantor for ensuring the fulfillment of obligations concerning the payment of customs duties to the customs service have been adjusted. In particular, the guarantor no longer has to own 50% of the stock in a bank, which is included into the list of banks and non-banking credit and financial organizations the customs service recognizes as guarantors of the payment of customs duties. Organizations, which property is owned by the state, have worked for at least ten years as a guarantor, and are included into the registry of customs agents, can act as guarantors. The minimal sum a guarantor can provide as a guarantee of the proper fulfillment of obligations has been raised from Br44 million to Br50 million.

These measures will allow recognizing other state organizations as national guarantors. In turn, it will contribute to the development of the national guarantee system and to raising Belarus’ transit potential.