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PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of August 7, 2012 No. 357

About procedure for forming and use of means of innovative funds

(The last edition from 12-04-2019)

For the purpose of creation of additional terms for financial support of innovative development of the Republic of Belarus I decide:

1. Approve the enclosed Regulations on procedure for forming and use of means of innovative funds.

2. Determine that:

2.1. since January 1, 2016 as a part of the republican budget the republican centralized innovative fund, as a part of local budgets - local innovative funds is created.

The republican centralized innovative fund and local innovative funds are the state trust budget funds;

2.2. return of the means provided from innovative funds on returnable basis till January 1, 2013 and also interest payment for use of them are performed into accounts of head departments of the Ministry of Finance on areas and Minsk with the subsequent transfer of these means in republican centralized innovative fund and the relevant local innovative funds, and percent and penalty fee added for untimely return of these means are enlisted in the income republican and local budgets;

2.3. payments in innovative funds, except for the innovative funds specified in the parts two of this subitem, and debt on these payments added in the procedure established by the legislation for 2012 both previous years and which are subject to payment in 2013 and the next years arrive in the income of republican centralized innovative fund and the income of the relevant local innovative funds.

Payments in the innovative funds of public associations "Belarusian society of deafs" and "The Belarusian partnership of visually impaired persons" and debt on these payments added in the procedure established by the legislation for 2012 and subjects to payment in 2013 go into the disposal of these public associations and are used on the purposes for which achievement these funds were created;

2.4. the republican state bodies and other state organizations subordinated to the Government of the Republic of Belarus, National academy of Sciences of Belarus, the Belarusian republican union of consumer societies, Federation of trade unions of Belarus, regional executive committees and the Minsk Gorispolkom (further - bodies and the organizations) have the right to create off-budget centralized investment funds (further - investment funds).

The organizations which are under supervision (being part) of bodies and the organizations, and also being part of the national production associations subordinated to them, economic societies, shares (share in authorized funds) of which are transferred to the control bodies and the organizations, have the right to monthly send to investment funds up to 25 percent of profit, being at the command the specified organizations and economic societies after tax payment, charges (duties), other obligatory payments in republican and local budgets, the state trust budget and off-budget funds. The specific size of the profit sent to investment funds within the specified sizes is determined by these organizations and economic societies in coordination with bodies and the organizations.

Means of investment funds are enlisted into the special accounts opened by bodies and the organizations in banks of the Republic of Belarus.

Funds of investment funds are allocated for the purposes connected with implementation of actions of the state, industry and regional programs, investment projects, acquisition including under contracts of finance lease (leasing), the machines and mechanisms, vehicles and processing equipment necessary for development of production capacities, for repayment of the loans of the banks attracted on these purposes, and interest payment on them and also for other purposes determined by Council of Ministers of the Republic of Belarus in coordination with the President of the Republic of Belarus.

Creation, approval of budgets of investment funds, performance reports of budgets of investment funds is not made.

Bodies and organizations:

develop and claim annually no later than February 1 in coordination with the Ministry of Finance of expense budget of investment funds the current financial year;

within financial year can make changes to expense budgets of investment funds according to the procedure, provided for their approval;

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