Tax and custom preferences
The industrial park in Belarus offers to investors:
- Preferential taxation by formula «10+10»: exemption from all corporate taxes for 10 years from the date of registration as a Park resident and reduction of the effective tax rate by 50% for the next 10 years of activity in the Park.
By formula «10+10» Park residents are exempt from:
- income tax in respect of profits derived from the sale of home-made goods (works, services) manufactured in the Park;
- property tax on buildings and facilities located on the territory of the Park;
- land tax in respect of privately owned land plots on the territory of the Park.
- Park residents exemption from customs duties and VAT on goods imported to Belarus for use in investment projects implementation in the Park
Benefits are provided for import of equipment (components and spare parts), as well as for raw stock and materials if such raw stock and materials are not produced in the countries of the Customs Union (produced in insufficient quantity or do not comply with the specifications of the investment project)
- Regime of a free customs zone that gives the right to import goods (raw stock, materials) without payment of customs duties (customs, VAT, excise duties) subject to further processing and export outside the countries of the Customs Union.
- Benefits for employees of companies operating in the industrial park: rate of personal income tax is fixed and comprises only 9% that is by 25% less than in Belarus.
- Park residents, as well as foreign employees are exempt from compulsory insurance contributions from their wages fund. Mandatory insurance contributions are not charged from income of Park residents employees with Belarusian citizenship to a part of income in case such a part exceeds one-time amount of the average wage in the country.
- Special procedure in respect of attracted foreign labour power.
Exemption from payment of fees for issuance, renewal of permits for attracting of foreign labour power, special permits for employment in Belarus, for issuance of permits for temporary residence in Belarus.
- In full VAT deduction paid at acquisition of goods (works, services, property rights) used for design, building and equipping of buildings and facilities in the Park.
- Exemption from tax on dividend income accrued for the founders for 5 years from the year of gross income origin of a Park resident.
- Tax rate on income of foreign companies without permanent representation in Belarus according to royalty accrued by Park residents as a reward for know-how, licenses, patents, utility models, process, and comprises 5% (3 times less than that in the country).
When new taxes and fees are established on the territory of the Republic, obligation to pay such taxes and fees for Park residents does not arise.
The said preferences are established by a special Decree of the President of the Republic of Belarus.