PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of July 4, 2005 No. 306

ABOUT RELEASE OF THE ORGANIZATIONS WHICH ARE PART OF THE BELARUSIAN STATE CONCERN ON OIL AND CHEMISTRY FROM PAYMENT OF CUSTOMS DUTIES AND THE VALUE ADDED TAX WHEN IMPORTING TO CUSTOMS AREA OF THE REPUBLIC OF BELARUS OF PETROCHEMICAL RAW MATERIALS FOR INDUSTRIAL CONVERSION

For the purpose of increase in production efficiency and competitiveness of polyester products I decide:

1. Exempt the organizations which are part of the Belarusian state concern on oil and chemistry from payment of customs duties and the value added tax when importing from June 1, 2005 to June 1, 2006 to customs area of the Republic of Belarus (except for import from the Russian Federation) for industrial conversion of paraxylol and ethylene glycol (thioethyl alcohol) (codes according to the Commodity nomenclature of foreign economic activity of the Republic Belarussootvetstvenno 2 902 43 000 0 and 2 905 31 000 0).

In case of inappropriate use of these petrochemical raw materials customs duties and the value added tax are collected according to the legislation.

2. Assign to the chairman of the Belarusian state concern on oil and chemistry, the CEOs of Mogilevkhimvolokno and Grodno Nitrogen open joint stock companies, the director of Lakokraska open joint stock company the personal responsibility for accomplishment respectively by open joint stock companies of the main target indicators of the forecast of social and economic development of the Republic of Belarus for 2005 (as a percentage by 2004):

Mogilevkhimvolokno - on industry products at least 115 percent, to commodity export is at least 112,5 of percent and profitability of goods sold at least 6 percent;

"Grodno Nitrogen" - on industry products at least 101 percent, to commodity export is at least 100,5 of percent and profitability of goods sold at least 8 percent;

"Lacquer paint" - on industry products at least 109 percent, to commodity export is at least 110,7 of percent and profitability of goods sold at least 5 percent.

3. To impose control over the implementation of this Decree on the State Control Committee.

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