On October 17, President of the Republic of Belarus signed into action Decree No 481 “On improving the procedure of exempting the subjects of entrepreneurial activities from economic liability.”

The document has been issued in order to prevent unsubstantiated economic insolvency (bankruptcy) of the subjects of entrepreneurial activities, to preserve and develop the most important productions for the regions and the republic as a whole.

The Decree stipulates that the decision on exempting the subjects of entrepreneurial activities from economic liability, including the one applied by the court, shall be taken exclusively by the Head of State. In this connection, the exemption from economic sanctions covers not only tax violations, but other violations as well, including those in the field of construction, customs services, commerce, and banking.