Free economic zones
FREE ECONOMIC ZONES (FEZ)
In Belarus 6 free economic zones "Brest", "Gomel - Raton", "Minsk", "Vitebsk", "Mogilev", "Grodnoinvest". As elsewhere in the world, the regime of the free economic zone provides businesses with the opportunity to work in special conditions that allow you to save money during the implementation phase of the project about 25-30 % of the costs.
Conditions of use:
- net investments of at least EUR 1 million;
- share of goods (works, services) sold for export in the total volume of traded goods is not less than 70%.
Major tax benefits:
- exemption from profit tax within 5 years from the date of Declaration of profit;
- further 50% tax rate (not more than 12 %);
- exemption from real estate tax for buildings and constructions;
- exemption from land tax.
Customs privileges:
- the customs regime of free customs zone;
- exemption from taxation of import customs duties, VAT and excise.
FREE ECONOMIC ZONES (FEZ)
There are 6 free economic zones in Belarus, namely, "Brest", "Gomel - Raton", "Minsk", Vitebsk", "Mogilev", "Grodnolnvest". As indeed in the whole world, FEZ regime gives enterprises the possibility to operate in special preferential conditions which favour the saving of about 25-30% of the expenses during the project implementation.
Application terms:
- amount of investment should be at least 1 mln euro;
- proportion of goods (works, services) destined for export should be at least 70% in the total volume of the goods sold
Main tax preferences:
- exemption from profit tax for 5 years since the date of profit declaration;
- then 50% of the tax rate (no more than 12%);
- exemption from real estate tax in terms of buildings and facilities;
- exemption from land tax.
Customs privileges:
- customs regime of free customs zone;
- exemption from import customs duties, VAT and excise duty.
State institution "National Agency of investment and privatization"