On 28 April 2015 GRATA International in pursuit of its expansion strategy to become a global law firm signed Memorandum of Understanding and Cooperation with Arzinger & Рartners, one of the leading law firms in Belarus. Cooperation with Belarus legal practice will provide GRATA International clients with comprehensive legal support in Belarus and other countries where Arzinger & Рartners has presence. The parties will put all efforts to integrate all processes and extensive expertise of both teams.
Arzinger & Рartners brief profile: Arzinger & Рartners was established in 1990 in Germany. Over time company’s offices were established in other countries such as Czech Republic, Slovakia, Hungary, Russia, Ukraine. In Belarus Arzinger & Partners opened its office in 2006 and became the first international law firm entering the Belarusian market of legal services. Arzinger & Рartners is one of the leading full service law firm in Belarus with focus on international investors in the area of energy, oil processing, telecommunications and construction. Arzinger & Partners is highly ranked by the international ratings such as Chambers Europe, Chambers Global, Legal 500, IFLR1000, Who's who legal, Corporate INTL.
Sergei Mashonski, Managing Partner, Arzinger & Рartners:
“The cooperation is an important step in the development of our firms. Such integration is a logical step forward in view of strengthening of various associations in the CIS countries, including the EurAsEC (Eurasian Economic Community). Our association is not limited to the post-Soviet countries and taking into account the experience of Arzinger & Partners in working with European companies, together we intend to expand our geographical presence in other countries as well.”
169 Nezavisimosti Ave., suite 304C, Minsk, Belarus, 220114
+375 17 218 1055
- Investment Activities
- Banking and Finance Law
- Real Estate and Construction
- Corporate Law / M&A / Privatization
- Dispute Resolution and Litigation
- Intellectual Property
- Antitrust and Competition
- Employment and Labour Law
|Sergey Mashonsky||Senior Partner – Coordinator||Minsk||Inquire|
|Alexander Korsak||Head of Dispute resolution practice in Belarus||Minsk||Inquire|
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On 21 December 2017 Alexander Lukashenko signed the Decree which significantly improves the conditions for residents of the High-Tech Park and makes our country much more competitive in terms of creation of a modern digital economy. The provisions of the Decree came into force on 28 March 2018.
The document establishes that legal entities in Belarus have the right to own any tokens (including crypto-currencies), store tokens in the virtual wallets, exchange tokens for one another or for fiat money. Belarusian legal entities now have a unique opportunity to create and place their own tokens in the Republic of Belarus and abroad via crypto platform operators and crypto currency exchange operators(such operators must be registered as High-Tech Park residents).
The changes prescribed by the decision of the Council of Ministers on 31 January 2018 came into force 10 February 2018.
In particular, new regulation changed the basic documents: Charter of the “Administration” of “Great Stone” as well as the Regulation on Chinese-Belarusian Industrial Park “Great Stone”.
On 29 January 2018 the Management Board of the National Bank introduced a number of changes to the Instruction on the bank transfer.
Among the most important changes is cancellation of requirement to put a seal on settlement and other documents.
Also an entirely new kind of bank transfers - direct debiting of the account was introduced. The procedure for the initiation of payment by using direct debit of the account is the following. A beneficiary through the service bank provides payment request stating the acceptance of a unique number and then enters the payment system through the service requirements of the bank. If the corresponding system accepts number, the funds are debited automatically from the payer to the beneficiary.
On 14 February 2018 the refinancing rate of the National Bank was reduced from 11% and now stands at 10.5%.
On 2 February 2018 the Heads of Governments of member countries approved the creation of the EEU goods marking system using the means of identification. Regulation on the marking of means of identification of goods in EEU was accepted in 17 May 2017 and this document identified the main goals and assigned group for the implementation of the system development.
On the last day of 2017 the Edict of the President came into force, which brought a lot of new provisions to land legal relations. The most long-awaited provision is that land users, prior to state body’s decisions on forthcoming withdrawal of the land plot for state needs and the demolition of real estate located on it, shall be entitled to use these land plots and exploit and improve the property on it without taking into account town planning regulations regarding restrictions of long-term development of settlements (territories subject to reconstruction, etc.).
The most long-awaited provision is the analogue of the “Google Tax” i.e VAT when rendering services in electronic form and the liberal procedure of tax registration. For this there is no more need to approve the application with an electronic digital signature, legalize other related documents notarize its translation into state languages. In addition, new provisions regulate accounting matters. From now the amount of VAT can be calculated and paid quarterly without an increasing total.
One more important issue for foreign organizations working in the country without a permanent establishment relates to preservation of preferences. Income received from issue of corporate bonds shall not be taxed with income tax and withholding tax till the end of 2018.
On 1 January 2018 Belarus addopted the so-called "tax on Google". This unofficial term in our country is used for VAT in cases when services are rendered by a foreign organization in electronic form and the country of rendering such services is Belarus. For example, it includes provision of rights to software, advertising services on the Internet, provision of domain names, hosting services and some other types of services.
This is related to the Decree No. 7 as well. The Government has recently shortened the list of construction activities subject to “attestation” (it is like certification, but different from the previous news item). A lot of “simple” construction works were eliminated from the list, like design works, doors and windows installation etc. So a lot of small construction companies that perform just internal works will be able to perform their activities without the special certificate. This is mostly interesting for the companies whose special certificate is going to expire soon. You do not need to prolongate it.
Long can we talk about the innovations of the Decree No. 7. In this month we would like to describe the simplified certification procedure for works and goods, as the new documents in this sphere were adopted in March. They are not fundamental, however, they make the procedure easier, more comfortable for the applicant.
At the Pharmaceutical Forum of the EAEU and CIS countries held in Moscow in late February 2018, the Director of the Department of Technical Regulation and Accreditation of the Eurasian Economic Commission (EEС) said that the full-scale work on registration of medicines using the unified information system of the Eurasian Economic Union (EAEU) will start upon its launch scheduled on the first half of 2018. Currently, the integration segment of this system is ready, and the work to prepare national segments in each state of the EAEU is underway. Representatives of the regulatory authority of Kazakhstan reported that the first applications for registration of medicines under the unified EAEU rules had already been submitted, and representatives of the Belarus regulator confirmed their readiness to accept such applications.
The Council of Ministers jointly with the National Bank adopted Resolution No. 830/12 from November 4, 2107. According to this document several international financial reporting standards are introduced from January 1, 2018.
It is planned that from the beginning of 2018 foreign companies that provide services in electronic form in Belarus or to individuals residing in the Republic of Belarus, will be taxed with value added tax.
The Council of the EEC decided to synchronize the procedures for ratification of the Customs Code of the Eurasian Economic Union.
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