On Introducing Additions to the Regulations as to the Procedure of Establishing by Individual Entrepreneurs of A Private Unitary Company and its Activities

By his Decree No. 209, the President of the Republic of Belarus has introduced additions to the Regulations as to the Procedure of Setting up of a Private Unitary Company by an Individual Entrepreneur and on Activity of this Type of Company.

If an individual entrepreneur transfers the equipment they have imported duty-free to the private unitary company they are establishing, the newly established private unitary company also becomes exempt from the respective customs duties and taxes.

In spite the fact that the condition on which it was possible to import equipment duty-free was that this equipment should be used for personal purposes without the right to alienate or transfer it to other entities, the violation of this condition shall not bind the respective private unitary company to pay customs duties.

Please see the Russian version of this site for the full text of the Decree