This page contains information for Belarusian and foreign exporters and importers on current limitations related to COVID-19, as well as recommendations on how to manage these limitations within the framework of your export/import business. Relevant information will help you correctly react to volatility and improve sustainability of your business in today's unprecedentedly complex conditions.
There are no large-scale restricting measures associated with the coronavirus pandemic in Belarus.
State support:
During the period of COVID-19, a number of economic measures of state support was adopted, aimed at stimulation of business activities:
- provision of tax and lease holidays,
- facilitation of credit provision,
- completion of foreign trade transactions.
The measures are aimed at state and private companies operating in the most severely affected sectors.
On April 24, 2020, the Decree No. 14 "On Support of Economics" was accepted for stimulation of business activities during the pandemic, which provided for the following support measures:
- provision of delays and installment repayment of tax credits;
- accelerated VAT return from the budget;
- recalculation of the unified tax for individual entrepreneurs in relation to non-performance of activities;
- introduction of tax holidays, moratorium for lease increases, recommendation for provision of delayed lease payment and its reduction;
- providing local authorities with the right to reduce property taxes (real estate tax, land tax, lease payment for state-owned land plots) and change the terms of their payment;
- simplification of state procurement procedures.
According to the Decree No. 143, support is provided to state and private enterprises from sectors that are most prone to negative effects of COVID-19. They include the following sectors:
- processing industry (production of textiles, clothing, fur and leather items);
- retail trade; transport activities (land, pipeline and air transport, as well as warehousing and auxiliary activities);
- temporary accommodation and catering services; real estate operations; administrative and auxiliary services (tourist activities, rent, hire and lease, organization of conferences);
- education; healthcare and social services; creativity, sports, entertainment and leisure;
- other services (repair of products, other individual services). Decree No. 159 "On Recalculation of Price of Assets and Liabilities" was published on May 12, 2020 for support of commercial organizations.
This regulatory document makes it possible to distribute course differences to future periods, allowing enterprises that receive credits to retain financial stability and continue to receive credits or refinancing. In addition, Resolution of the Council of Ministers of the Republic of Belarus and the National Bank of the Republic of Belarus No. 192/6 "On Conducting Foreign Trade Transactions and Opening Accounts in Non-Resident Banks" was adopted for export support, according to which the terms of completion of foreign trade transactions are extended by 100 calendar days.
The Resolution allows the business to complete transactions in conditions of irregular supplies of goods and settlements with foreign contractors.
