The general conception
for Free Economic Area Minsk is based on the following targets and aims:
1. To involve not used
or unsufficiently used fixed assets of "The 11-th ilometer-Shabany"
industrial centre into cycle of operation.
2. To step up export and
involve the enterprises of Minsk and Minsk Region into international economic
ties.
3. To attract advanced
techniquies and technlogies and incude them into technological chains of
belarussan enterprises.
4. To attract foreign and
local private capital for investment to industrial projects within the
territory of the Republic of Belarus.
5. To establish a large
transit transport node on the base of the National Airport.
DESCRIPTION
OF FREE ECONOMIC AREA MINSK AND THEIR FUNCTIONS
Area 1 - "The 2-nd
kilometer" - 290.0 hectares
Area 2 - "Shabany"
- 670.0 hectares
Area 3 - "Elnitsa"
- 150.0 hectares
Area 4 - "Obchack"
- 60.0 hectares
Area 5 - "Prilessie"
- 50.0 hectares
Area 6 - "Radian"
- 30.0 hectares
Total: 1250.0 hectares
Including:
on Minsk lands - 710.0
hectares
on the lands of Minsk Region
- 540.0 hectares
Two areas are located on
the lands belonging to the National Airport MINSK
Area 7 - "Sheremetovo-1"
- 100.0 hectares
Area 8 - "Sheremetovo-2"
- 40.0 hectares
Total: 140.0 hectares
Including:
on the lands of Smolevichi
district - 80.0 hectares
on the lands of the National
Airport - 60.0 hectares
TAXES:
PREFERENCES AND PRIVILEGES
Actions of economic policy
are not taken and custom duties are not imposed on foreign and local goods
brought into a Free Economic Area (FEA) MINSK.
Production (work, services)
of the residents of the Area are not liable to duty when taken out of FEA
MINSK.
Production (work, services)
of the residents of the Area are not subject to the quota and licence when
brought out of FEA MINSK.
Free Economic Area MINSK
is created for the perion of 30 years.
Forced actions like requisition,
nationalization and firfeiture of investments are not allowed within FEA
MINSK.
Tax privileges are applied
within FEA MINSK: profit tax and tax on income equal to 15 % (30 % in the
Republic), value added tax equals to 10 % (20 % in the Republic).
To promote investments
into high-technology-production FEA residents have got the right to include
depreciation costs into material costs. FEA residents are allowed to set
accelerated depreciation
norms for productions using new and high technologies.
Profit derived by FEA MINSK
residents from sale of their own products and services are exempt from
taxes for the period of 5 years from the date of declaration of profits,
the first profit-making year including.
FEA MINSK residents exporting
upwards of 70 % of their production are exempt from value added tax for
the next year.
Profit invested by FEA
residents within the Republic of Belarus is exempt from tax on income.
