Zero customs duty on some goods imported to belarus

Minsk, Feb 24 (NNN-BELTA) Belarus has introduced a zero customs duty on some kinds of imported manufacturing equipment in line with the president's decree No. 71.

BelTA learnt from Sergei Poluden, head of the tariff regulations and customs payments office of the State Customs Committee, the customs rate will be applied for nine months to imported boilers, pumps, fans, dryers, machine tools, sewing machines and some other kinds of equipment.

The source noted, the zero customs duty had been in effect the previous year as well. However, this yeara?Ts resolution contains several changes.

In particular, the decree lists cases when the transfer of imported goods does not entail the need to pay the customs duty.

The mechanism is in effect when a bank transfers the goods to another entity in line with a financial lease contract (leasing), when goods are transferred by the importer to another person as part of a contract for work and labour, when goods bought by the government are transferred to an agricultural company, when goods are imported by a national state agency or an other state-run institution and transferred to a subordinate organisation.

Customs duties defined by corresponding laws are in effect when goods are alienated or transferred into ownership and/or use of another entity, added Sergei Poluden.

In line with the document the application of the zero customs duty is limited by the price and manufactured date of the imported equipment.

A contract value of one piece of the equipment is to be at least $20,000. The equipment is to have been made in 2001 and later.

The manufactured date is to be confirmed by the technical documentation. In view of the intention of many companies to be more effective and retool themselves it is necessary to buy quality and modern equipment.

This reason defined the limitations concerning the price and manufactured date, explained the official.