The period of exemption from income tax on supply of products for export will be increased up to 10 years for residents of free economic zones from January 1, 2017, reports Deputy Economy Minister of Belarus Alexander Yaroshenko.
“From January 1, 2017 the period of exemption from income tax on supply of export products for FEZ residents will increase up to 10 years. Earlier it was a 5-year period. Those residents who entered after 2012 will receive a prolongation, as well as those companies that will be created in the current period”, said Alexander Yaroshenko. According to him, the appropriate changes have already been made to the Tax Code.
It is also proposed to free the residents from paying property taxes for 3 years. “If earlier this preference has been applied to the residents who has carried out the delivery of products for export from the moment they started to do it, but now we will apply this exemption from the registration as soon as the resident registers, it will be a starting point for its obtaining”, said Deputy Minister of economy.
In addition, according to Alexander Yaroshenko, some more additional benefits that will enable residents to have preferential conditions for business are to be discussed.
Under the materials of BelTA