Agricultural organizations of Belarus for 10 years, given the installment debt

The decision is contained in a decree dated March 1, 2010 № 92 "On some issues of agricultural organizations.

Decree adopted in order to create conditions for development of agriculture and investment and is aimed at reviving the economy of agricultural producers.

The Decree provides for a reduction in the financial obligations of the agricultural organizations, which shall be executed in 2010.

Installment debt repayment will be provided for payments to the republican and local budgets (except for customs payments, innovation funds, value-added tax and excise duties levied on goods imported from the territories of the states with which no customs clearance and control) for payments in Social Welfare Fund Ministry of Labor and Social Security, as well as for the consumed energy (gas, electric and thermal energy).

Decree defines the conditions for granting installment of these payments, as well as the postponement of 10 years on the amounts of economic sanctions, administrative fines and penalties for violation of terms and procedures of making payments to the Fund of Social Protection of Labor and Social Security.

Thus, the implementation of the decree will allow farmers, reducing debt, a lot harder to carry out activities for the organization of production, carry out the obligations on bank loans, as well as budget loans and borrowings. All this is healthier economy organizations and will provide additional incentives to attract investment.