PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of July 8, 2013 No. 301

About measures for sales promotion of investment projects with high value added

For the purpose of sales promotion of investment projects with high value added:

1. Determine that:

1.1. to the legal entities included in the list approved by Council of Ministers of the Republic of Belarus in coordination with the President of the Republic of Belarus (further - legal entities), in case of sales term them investment projects (further - projects) which following the results of 2016 will allow to provide in general on the legal entity annual value added * not below threshold values of annual value added counting on one average worker by types of economic activity according to appendix, are compensated from means of the republican budget interest for using the bank loans received from January 1, 2014 to January 1, 2017 for projects implementation, in the amount of, established in subitem 1.3 of this Item, during all term of the use of these credits determined in case of the conclusion of the credit agreement. Compensation of percent to the specified legal entities is performed without increase (education) in share of the Republic of Belarus in authorized funds of these legal entities;

______________________________

* For the purposes of this Decree "value added" is understood the volume of production (works, services) in selling prices less the accrued taxes and charges from revenue as indicator minus material costs (without payment for natural resources) and the other costs consisting of the rent, entertainment expenses and services of other organizations. Classification of cost items is performed based on accounting data.

1.2. in case of implementation of several projects by the legal entity irrespective of at what development of type of economic activity their realization is aimed, calculation of annual value added on one average worker is made in general on the legal entity. Determination of the threshold value of annual value added established in appendix to this Decree is performed in general on the legal entity on core activity on start date of project implementation;

1.3. compensation of interest for using bank loans is made:

in Belarusian rubles - in the amount of the refunding rate of National Bank established for date of compensation of percent, increased no more than by 3 percent points of margin;

in freely convertible currency - in the amount of the rate of LIBOR on six-months interbank deposits established for date of compensation of percent, increased no more than by 4 percent points of margin in loan currency;

in Russian rubles - in the amount of the refunding rate established by the Central bank of the Russian Federation for date of compensation of percent.

Compensation of interest for using the bank loans granted in freely convertible currency and Russian rubles is performed in Belarusian rubles on the official rate of National Bank for date of their compensation;

1.4. if to legal entities other acts of the legislation provide compensation of part of interest for using the bank loans attracted on project implementation on the amount of this compensation the amount of compensation provided in part one of subitem 1.3 of this Item decreases;

1.5. in case of failure to provide the legal entity following the results of 2016 accomplishment of the condition determined in subitem 1.1 of this Item:

the legal entity loses the right to compensation of interest for using bank loans according to subitem 1.1 of this Item;

the amount of compensated interest for using bank loans increased by the refunding rate of National Bank established for date of return of percent is subject to payment by the legal entity in the budget during 2017 quarterly equal shares.

In case of non-return or incomplete return by the legal entity of the amount of compensated interest for using bank loans this amount increased by the refunding rate of National Bank established for date of collection is collected by the Ministry of Finance in indisputable procedure.

2. To assign the personal responsibility for achievement of annual value added by legal entities of the corresponding threshold values counting on one average worker by the types of economic activity determined in appendix to this Decree to heads of these legal entities, republican state bodies and other state organizations subordinated to the Government of the Republic of Belarus, National academy of Sciences of Belarus, regional executive committees and Minsk Gorispolkom, Premyerministr's deputies of the Republic of Belarus supervising the corresponding industries of economy.

3. To Council of Ministers of the Republic of Belarus:

3.1. provide decision making about compensation of interest for using bank loans to legal entities according to subitem 1.1 of Item 1 of this Decree;

3.2. when forming drafts of the republican budget for 2014 and the next years to provide funds for compensation to legal entities of interest for using bank loans according to subitem 1.1 of Item 1 of this Decree;

3.3. to submit within three-months term to the President of the Republic of Belarus for review the list of the legal entities (including legal entities, concerning which are taken measures of the state support according to decisions of the President of the Republic of Belarus and Council of Ministers of the Republic of Belarus) realizing projects according to subitem 1.1 of Item 1 of this Decree *;

______________________________

* The legal entities realizing the projects which received the positive decisions of the Ministry of Economics, Ministry of Finance, State committee on science and technologies, the relevant republican state bodies and other state organizations subordinated to the Government of the Republic of Belarus under which supervision they are (being part) and also other legal entities who are not under supervision of these bodies (not being part), realizing the projects which received the positive decisions of the Ministry of Economics, Ministry of Finance, State committee on science and technologies, regional executive committees and the Minsk Gorispolkom can be included in the list.

3.4. take other measures for implementation of this Decree.

4. To impose control over the implementation of this Decree on the State Control Committee.

5. This Decree becomes effective in the following procedure:

subitem 3.2 of Item 3 - from the date of signing of this Decree;

other provisions of this Decree - since January 1, 2014.

Appendix

to the Presidential decree of the Republic of Belarus of July 8, 2013 No. 301

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info