PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of September 24, 2009 No. 466

About some measures for sales of goods made in the Republic of Belarus

For the purpose of development of trade and economic cooperation by foreign countries, creation of conditions for realization in these countries of the goods made in the Republic of Belarus:

1. Determine that:

1.1. By the Republic of Belarus it is compensated for the account of the means of the republican budget provided on the answering purpose:

to banks – nonresidents of the Republic of Belarus part of interest for using the credits (further – compensation of percent) provided by them for the term which is not exceeding 5 years * (further – bank loans), and used:

in 2009-2014 borrowers – nonresidents of the Republic of Belarus for acquisition in foreign countries of the goods made in the Republic of Belarus and refinancings of the costs incured by leasing companies;

in 2015-2026 borrowers – nonresidents of the Republic of Belarus, including borrowers from the third countries (except for leasing companies – nonresidents of the Republic of Belarus and banks from the third countries), for purchase of goods, made in the Republic of Belarus;

in 2019-2026 banks from the third countries for financing of purchase of goods made in the Republic of Belarus;

to banks – nonresidents of the Republic of Belarus part of remunerations for post-financing of the letters of credit (further – compensation of remunerations) opened in 2019-2026 by banks from the third countries for purchase of goods made in the Republic of Belarus;

to leasing companies – nonresidents of the Republic of Belarus part of leasing payments under the agreements of finance lease (leasing) signed in 2015-2026 for the term which is not exceeding 5 years * with legal entities or physical persons – nonresidents of the Republic of Belarus (further – leasing recipients), including leasing recipients from the third countries which subject are the goods made in the Republic of Belarus (further – compensation of leasing payments);

to leasing companies – nonresidents of the Republic of Belarus part of leasing payments under the agreements of finance lease (leasing) signed with leasing recipients in 2024-2026 for the term which is not exceeding 7 years which subject are the goods made in the Republic of Belarus by Minsk Tractor Plant and Gomselmash open joint stock companies for subsequent their realization in the Russian Federation.

For the period the delay of obligation fulfillment granted by banks – nonresidents of the Republic of Belarus and leasing companies – nonresidents of the Republic of Belarus, compensation of percent and leasing payments is not made. The term of compensation cannot exceed 5 years;

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* Not exceeding 6 years – by provision in 2020 for the term of no more than one year of delay of obligation fulfillment on the credits or agreements of finance lease (leasing).

1.2. compensation of percent, remunerations and leasing payments is performed based on the relevant agreements signed by the Government of the Republic of Belarus on behalf of authorized republican state body with banks – nonresidents of the Republic of Belarus and leasing companies – nonresidents of the Republic of Belarus.

In agreements with banks – nonresidents of the Republic of Belarus determine terms for crediting, including for refinancing of costs, condition of implementation of post-financing of letters of credit, percent and remunerations levied by banks – nonresidents of the Republic of Belarus for use of bank loans and post-financing of letters of credit respectively, procedure for compensation of percent, remunerations.

In agreements with leasing companies – nonresidents of the Republic of Belarus determine conditions of provision of the goods made in the Republic of Belarus, to leasing recipients, the sizes of leasing payments and procedure for their payment, procedure for compensation of leasing payments.

Compensation of percent, remunerations and leasing payments is performed in the sizes confirmed with the republican state bodies, other state organizations subordinated to the Government of the Republic of Belarus regional and Minsk city executive committees according to regulations on order of interaction of the republican state bodies, other state organizations subordinated to the Government of the Republic of Belarus regional and Minsk city executive committees and banks in case of implementation of this Decree, the approved Council of Ministers of the Republic of Belarus. At the same time responsibility for justification of the amount of such compensation is conferred on heads of the organizations included in the list called in subitem 1.4 of this Item.

The amount of compensation cannot exceed:

in case of compensation of percent (except for interest for using the credits utilized by borrowers and banks from the third countries) – 2/3 refunding rates (in case of its absence – rates, it replacing), established in the state in the territory of which the goods made in the Republic of Belarus operating for the date determined in the signed agreements are acquired;

in case of compensation of interest for using the credits utilized by borrowers and banks from the third countries, remunerations for post-financing of letters of credit:

in US dollars – commercially oriented interest rate (CIRRs) according to the Agreement about officially the supported export loans drafted by member countries of the Organization for economic cooperation and development (further – CIRRs rate) applied to transactions by urgency up to 5 years operating for the date determined in the signed agreements, increased by 2 percent points (in case of negative value the rate of CIRRs is accepted to zero), but no more than 4 annual interest rates;

in euro – the rate of EURIBOR on 12-month interbank deposits in euro operating for the date determined in the signed agreements, increased by 3 percent points (in case of negative EURIBOR value is accepted to zero), but no more than 3 annual interest rates;

in Russian rubles – 2/3 key interest rates of the Central bank of the Russian Federation operating for the date determined in the signed agreements;

in case of compensation of leasing payments (except for leasing payments under the agreements of finance lease (leasing) signed with leasing recipients from the third countries) – part of attachment of leasing company – the nonresident of the Republic of Belarus calculated proceeding from 2/3 refunding rates (in case of its absence – rates, it replacing), established in the state in the territory of which the goods made in the Republic of Belarus operating for the date determined in the signed agreements are provided to the leasing recipient;

in case of compensation of leasing payments under the agreements of finance lease (leasing) signed with leasing recipients from the third countries:

in US dollars – part of attachment of leasing company – the nonresident of the Republic of Belarus calculated proceeding from rate of CIRRs applied to transactions by the urgency up to 5 years operating for the date determined in the signed agreements, increased by 2 percent points (in case of negative value the rate of CIRRs is accepted to zero), but no more than 4 annual interest rates;

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