The Republic of Belarus is a member country of the Eurasian Economic Union – an International Organisation of Regional Economic Integration with international legal existence established by the Eurasian Economic Union Treaty. The EAEU ensures the freedom of movement of goods, as well as services, capital, workers and a unified policy in all economic sectors for all member countries.
The dynamics of the foreign trade in Belarus is characterised by a rapid increase in the volume of trade and services. This is due to high rates of economic growth, significant scientific, technical and transit potential, participation in integration processes within the CIS, as well as diversification of trade and economic relations with other countries.
Belarus imports and exports a wide range of goods, while focusing mainly on chemical products, machinery, equipment, vehicles, ferrous and non-ferrous metals.
GRATA International Belarus Desk provides legal advice to clients on a broad range of corporate transactions and legal matters.
104, M. Ospanov Street, Almaty, Republic of Kazakhstan, 050020
+7 701 722 3287
- 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
First | Prev. | 1 2 3 4 5 | Next | Last
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.
News 18 - 27 of 67
First | Prev. | 1 2 3 4 5 | Next | Last