"fezs" - 1 õppematerjal

Business peciliarities in Ukraine and Bealrus

decision with Presidential approval may provide for more incentives and benefits even though they are not envisaged in the law directly. These incentives are defined individually in each separate case. Source: Ernst & Young. Doing Business in Belarus 2012 Free Economic Zones Free economic zones (FEZ) are territories with a special regime for entrepreneurial activity and with special incentives for business development, e.g., tax and customs benefits. Belarus has six FEZs: FEZ Brest, FEZ Minsk, FEZ Gomel-Raton, FEZ Vitebsk, FEZ Mogilev and FEZ Grodnoinvest. The following key benefits exist: Exemption from corporate profit tax (CPT) for five years from the date of first profit declaration. Profit from uncovered activity is subject to profit tax at the general rate of 18%. Subsequently, tax is paid at a rate that is cut by half, but that is no more than 12%. Since the CPT rate was reduced from 24% to 18% in 2012, FEZ residents are to calculate