RESOLUTION OF COUNCIL OF MINISTERS OF THE REPUBLIC OF BELARUS

of October 30, 2017 No. 802

About not depreciation on fixed assets and intangible assets in 2018 and the next years

According to article 11 of the Law of the Republic of Belarus of July 23, 2008 "About Council of Ministers of the Republic of Belarus" and for the purpose of creation of conditions for effective work of subjects of managing the Council of Ministers of the Republic of Belarus DECIDES:

1. Determine that the organizations, except for banks, "Development Bank of the Republic of Belarus" open joint stock company and the non-bank credit and financial organizations, and also individual entrepreneurs have the right to make the decision on not depreciation on the fixed assets and intangible assets used by them in business activity, except for the fixed assets used when rendering the housing-and-municipal and transport services to the population subsidized at the expense of budgetary funds (further - fixed assets and intangible assets):

from January 1 to December 31, 2018 - on all or separate fixed asset objects and intangible assets;

since January 1, 2019 - on the fixed asset objects and intangible assets provided by business plans of investment projects on creation or upgrade of productions. The realization of the called right is enabled till December 31 inclusive year of exit of these productions to design capacity or achievements of positive financial result (availability of net profit), but no more than three years from the date of commissioning of fixed asset objects and acceptance date to financial accounting of intangible assets.

At the same time normative service life and useful use of such fixed asset objects and intangible assets are prolonged for the term equal to the period in which the depreciation was not made.

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