ANNOUNCEMENT 30 Jun 2009In June 2009, the government of Belarus announced changed incentives for foreign investors entering the country.
NUMBER OF INTERVENTIONS
The Government Decree # 356 from 30 June 2009 introduces a FDI attraction policy. Thus, now foreign credential institutions will not pay an income tax on the interest rates received from loans to the Belorussian companies.
While the income tax reduction does benefit foreign firms making loans, this provision also introduces discrimination in the supply of finance (as lending to non-local firms does not appear to benefit from the tax exemption.)